A sale of federal oil and natural gas leases for the Western Gulf of Mexico attracted $115,466,321 million in high bids, Secretary of the Interior Ken Salazar announced. To date this year, the department has offered 55 million acres of U.S. public land – onshore and offshore – for oil and gas development, generating more than $875m in revenues. “The responsible development of oil and gas resources on U.S. public lands is an integral part of President Obama’s comprehensive energy strategy for the nation,” Secretary Salazar said. “A domestic energy plan that balances the development of conventional and renewable energy resources – both onshore and offshore – is essential to reducing our country’s dependence on foreign oil, building a clean-energy economy, and addressing the challenges of climate change.” Western Gulf of Mexico Oil and Gas Lease Sale 210, held in New Orleans by Interior’s Minerals Management Service, received 189 bids on 162 federal Outer Continental Shelf tracts from 27 companies. The sum of all bids received totaled $145,186,365.00. The highest bid received on a tract was $28,133,843 for Keathley Canyon, Block 96 submitted by BP Exploration & Production Inc. The high bid for each block will go through a strict evaluation process to ensure the public receives fair market value before a lease is awarded.
Obama Administration Announces Proposed Central Gulf of Mexico Oil and Gas Lease Sale; sale Will Make Nearly 38 million Acres Available as Part of the President’s Blueprint for a Secure Energy Future. The Obama administration has announced that the Department of the Interior’s Bureau of Ocean Energy Management (BOEM) will hold the consolidated Central Gulf of Mexico Lease Sale 216/222 in New Orleans on June 20, 2012
The Department of the Interior's Minerals Management Service (MMS) published a final rule regarding the use of electronic funds transfer (EFT) by oil and natural gas companies bidding on Outer Continental Shelf federal leases. The final rule provides additional administrative flexibility to allow the agency to require EFT payment methods when appropriate. The rule will save time and money for the oil and natural gas industry and the Federal government.
The Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) released a Final Supplemental Environmental Impact Statement (SEIS) for proposed oil and gas Lease Sale 218 in the Western Planning Area in the Gulf of Mexico. The SEIS updates the findings in several previously published environmental reviews covering the Gulf of Mexico. It also incorporates the latest available information pertaining to the Western Gulf of Mexico Planning Area following the Deepwater Horizon explosion
BOEM Will Hold Public Hearing in New Orleans on Proposed Oil and Gas Leasing Program. The Bureau of Ocean Energy Management (BOEM) will hold a public hearing in New Orleans on Jan. 11, 2012, to provide an opportunity for the public to comment on the Draft Environmental Impact Statement (DEIS) for the Proposed Outer Continental Shelf (OCS) oil and gas lease sales offshore Texas, Louisiana, Mississippi and Alabama
BOEM's 'Final Environmental Impact Statement (FEIS)' will aid decision-making on Gulf of Mexico oil & gas lease sales The Department of the Interior’s Bureau of Ocean Energy Management (BOEM) has completed the Final Environmental Impact Statement (FEIS), with environmental analysis that will support decision-making concerning oil and gas lease sales scheduled in the Gulf of Mexico over the next five years.
Husky Energy Inc. announced that it has signed petroleum contracts for two additional exploration leases in the South China Sea. Both are located in the Beibu Gulf, north of Hainan Island and within 80 kilometres of the Weizhou oil fields. The agreement includes exploration lease 23/15, which is 1,327 sq. kilometres, and exploration lease 23/20, which is 1,543-sq. kilometres. A single exploration well is required in each contract area in the first three years of the contract.
The Gulf of Mexico's offshore petroleum industry is far from recovering from hurricanes Katrina and Rita, and at least one-sixth of the region's normal daily oil production will still be offline at the start of next storm season, the AP reported. Katrina and Rita destroyed 115 of the Gulf's 4,000 production platforms and damaged another 52, according to a report released last week by the Minerals Management Service, which manages federal offshore leases
The Department of the Interior proposed leasing drilling rights in waters south of the Florida Panhandle in the Gulf of Mexico in a new five-year drilling plan that also would open waters off Virginia. The plan will cover the years 2007 to 2012. If given final approval next spring after a public comment period, the plan would be more restrictive than some drilling advocates want but not restrictive enough for some Florida lawmakers
The U.S. Minerals Management Service, which manages federal offshore leases, said a record number of drilling rig are working in ultra-deepwater in the Gulf of Mexico. Fifteen rigs are currently drilling for oil and natural gas in the ultra-deepwater of the Gulf at depths of 5,000 feet or greater. MMS officials say the record is the result of a decade-long trend of exploration companies looking to deeper regions of the Gulf.
Only Modern Data Should Drive Future Exploration Decisions How much can change in one generation? Let’s take a look at the current generation entering your workforce born between 1980 and 2000; the Millennials. This generation grew up rarely hearing the phrase, “You can’t do that
FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust, announced the financial results of FSL Trust for the quarter ended 31 March 2013. Revenue for 1QFY13 declined by 11.6% to $23.0 million (USD) compared to the corresponding quarter last year
August Auction to offer all Unleased Acreage in Western Gulf of Mexico As part of President Obama’s all-of-the-above energy strategy to continue to expand domestic energy production, Secretary of the Interior Sally Jewell and Acting Assistant Secretary for Land and Minerals
International accountant and shipping adviser Moore Stephens said shipping companies should explore leasing opportunities as a way of adjusting their self-owned and chartered-in tonnage balance in response to the radical changes that have taken place in ship financing in recent years.
Quest Offshore characterizes the U.S. Gulf of Mexico as a deepwater region that is “Transitioning into a Bright Future.” According to the recently released 116-page Quest Deepwater Review Gulf of Mexico report, the Gulf of Mexico has experienced massive changes in the last 5 years with
The Container Owners Association – the international organization representing container shipping lines and container leasing companies worldwide – has appointed Mr O I Kwon, Senior Vice President – Container Business Management Division, STX Panocean Co Ltd
National Ocean Industries Association (NOIA) President Randall Luthi makes the following statement about Gulf of Mexico Lease 227 Sale. "We are seeing a very positive trend for the offshore industry in the Gulf of Mexico, and we look forward to Central Gulf sale 227
Both of Shell's offshore drill rigs used during last year's oil exploration season to be transported to Asian shipyards for inspection and repair. The decision suggests the Kulluk and the Noble Discoverer -- Shell's only drilling rigs for the Arctic -- need major work and calls into further
CNOOC, China's largest offshore oil and natural gas producer, barred from outright opeation of recently acquired Gulf of Mexico oilfields. The oilfields were acquired by CNOOC through its US$15-billion takeover of Canadian firm Nexen. The state-owned oil giant's purchase of Nexen includes
Two members of the Gulf Economic Survival Team testified at a U.S. House Natural Resources Subcommittee on Energy & Mineral Resources Oversight hearing. Two members of the Gulf Economic Survival Team – Chett Chiasson, Executive Director of the Greater Lafourche Port Commission and Cory
The federal government cleared the way for Virginia to seek a research lease in its Atlantic coastal areas to help speed up development. The move would allow for greater study of wind, waves and wildlife in a 130-square-mile set aside for wind development. The announcement by U.S
Shell was a high bidder on 38 Gulf of Mexico blocks at the US Bureau of Ocean Energy Management (BOEM) Lease Sale 227. Shell continues to build upon a strong position in the Central Gulf of Mexico, bidding on a total of 43 blocks and exposed approximately $166 million.
Martek Marine’s leasing package offers an option to adopt ECDIS early, which they said can help shipowners benefit from increased safety and lower costs. ECDIS product specialist Bentley Strafford-Stephenson said, “DNV research has shown that deploying ECDIS may reduce grounding
Bourbon and ICBC Financial Leasing (China) signed an operating lease, framework agreement for up to $1.5 billion (USD) corresponding to the sale and bareboat charter back for 10 years of up to 51 vessels Bourbon is rolling out a transformation plan for its future growth
The Bureau of Ocean Energy Management released a Final Supplemental Environmental Impact Statement (SEIS) for proposed oil and gas Lease Sales 233 and 231, the third and fourth sales scheduled in the current 2012-2017 five-year program. As part of the Obama Administration’s