Western Gulf of Mexico Lease Sale Yields $133.8 Million in High Bids on Over 652,520 Acres, Only Latest in a Series of Recent Major Offshore Oil and Gas Sales. As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, the Department of the Interior’s Bureau of Ocean Energy Management today held Western Gulf of Mexico Lease Sale 229, which offered over 20 millions acres and attracted $133,767,074 in high bids for 116 tracts covering 652,522 acres on the U.S. Outer Continental Shelf (OCS) offshore Texas. A total of 13 offshore energy companies submitted 131 bids. The Western Gulf of Mexico Lease Sale builds on two major Gulf of Mexico lease sales in the past year alone, a 21 million acre sale held last December and a 39 million acre sale held in June. “At President Obama’s direction, his Administration continues to implement a comprehensive, all-of-the-above energy strategy, expanding domestic production, reducing our dependence on foreign oil, and supporting jobs,” said Interior Secretary Ken Salazar. “Developing public energy resources in the Gulf of Mexico continues to generate much needed revenue for local communities while helping to power our nation and fuel our economy.” Lease Sale 229 offered more than 20 million acres for oil and gas development on the OCS and supports the Administration’s goal of continuing to increase domestic oil and
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
Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau announced that BOEM will offer 38 million acres in the Central Gulf of Mexico for oil and gas exploration and development. Thesale will build on two major Gulf of Mexico lease sales in the last year – a 21 million acre sale held last December and a 39 million acre sale held in June. Proposed Lease Sale 227, scheduled to take place in New Orleans on March 20, 2013
The Director of Minerals Management Service, Liz Birnbaum, will host Western Gulf of Mexico Lease Sale 210 in New Orleans on August 19. She will open the Federal oil and gas lease sale at 9:00 a.m. CDT at the Royal Sonesta Hotel with brief remarks. Immediately following the bid reading, she will hold a media availability to discuss the results of the sale. The sale, held by the U.S. Department of the Interior’s Minerals Management Service (MMS), encompasses 3
As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, today’s Western Gulf of Mexico Lease Sale 238 attracted $109,951,644 million in high bids for 81 tracts covering 433,823 acres on the U.S. Outer Continental Shelf offshore Texas. A total of 14 offshore energy companies submitted 93 bids. “This sale underscores the President’s commitment to create jobs and home-grown energy through the
On Wednesday, March 19, 2014, Secretary of the Interior Sally Jewell will announce the results of Gulf of Mexico Lease Sales 231 and 225, which are offering more than 40 million acres for oil and gas exploration and development offshore Louisiana, Mississippi and Alabama. Joining the Secretary on the press conference call will be Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau and BOEM Gulf of Mexico Regional Director John Rodi.
U.S. Government agency BOEM informs that Western Gulf of Mexico Lease Sale 238 attracted US$109,951,644 million in high bids for 81 tracts covering 433,823 acres on the U.S. Outer Continental Shelf offshore Texas. A total of 14 offshore energy companies submitted 93 bids. “This sale underscores the President’s commitment to create jobs and home-grown energy through the safe and responsible exploration and development of offshore energy resources
More Than 20 Million Acres to be Offered for Exploration and Development in Western Gulf Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) Director Michael R. Bromwich today announced that BOEMRE will hold the first oil and natural gas lease sale in the Gulf of Mexico since the Deepwater Horizon explosion and oil spill. Consistent with steps President Obama announced in May 2011 to expand domestic oil and gas production safely
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
As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, the Bureau of Ocean Energy Management (BOEM) today announced that it will hold Gulf of Mexico Central Planning Area (CPA) oil and gas lease sale 231 in New Orleans on March 19, 2014. The sale is the second CPA lease sale and the fourth overall sale under the 2012 – 2017 Outer Continental Shelf Oil and Natural Gas Leasing Program
NOIA President Randall Luthi released the following statement after providing testimony today before the House Committee on Natural Resources Subcommittee on Energy and Mineral Resources on H.R. 5577, the Innovation in Offshore Leasing Act:
China Shipping Container Lines (CSCL) has proposed to change its name to Cosco Shipping Development Co (CSDC), in line with the company’s future business strategy and as a group member of China Cosco Shipping Corporation (Coscocs).
In a significant breakthrough for the container shipping business, the two criteria currently used when inspecting containers during the interchange process between operators and leasing companies are now to be harmonised. Until now
Oil majors are in talks with Mexico’s state-owned Petroleos Mexicanos (Pemex) as the struggling state-run oil producer seeks partners to develop deepwater crude in the Gulf of Mexico, reports Bloomberg. Petroleos Mexicanos is in talks with Exxon Mobil Corp
Issues $140 Million of 6.95% Series F Cumulative Convertible Perpetual Preferred Shares, Renews $150 Million Unsecured Revolving Loan and Enters into $250 Million Lease Financing HONG KONG, CHINA--(Marketwired - May 18, 2016) - Seaspan Corporation ("Seaspan") (NYSE:SSW) announced
Four Damen SPa 1605 ballistic protected security patrol vessels have been delivered to C&I Leasing Plc, a player in the Nigerian offshore support vessel market. The patrol boats, which have already undergone sea-trials, will provide security patrol and escort services for LNG tankers calling
Port of Portland approves 14-acre PDX Logistics Center Phase III lease with Capstone Partners The Port of Portland Commission today approved a 14-acre, 50-year lease with locally based Capstone Partners and its investment partner PCCP, LLC to develop Phase III of the PDX Logistics Center
Ports America is continuing its business growth strategy to increase its West Coast presence through additional investments, services and expansion of its terminal capacity. The latest transaction includes a significant expansion and 20-year lease extension of the Husky Terminal in Tacoma, Wash
The Bureau of Ocean Energy Management’s (BOEM) Final Rule for Leasing of Oil and Gas or Sulfur in the Outer Continental Shelf (OCS) will be published in the Federal Register on March 30, 2016. The final rule updates and streamlines the existing OCS leasing regulations
Cosco Pacific Ltd.'s 2015 net profit rose 30% from a year earlier on the back of a write back of a provision. It recommended a final dividend of 22.9 Hong Kong cents a share. The full-year net profit was US$381.6 million compared with US$292.8 million a year earlier
NOIA President Randall Luthi today issued the following statement in advance of tomorrow’s Central and Eastern Gulf of Mexico Oil and Gas Lease Sales: “Historically, Central and Eastern Gulf of Mexico lease sales have drawn strong interest from industry; however
The Bureau of Ocean Energy Management (BOEM) today released proposed regulations that would provide additional clarity and certainty for its Marine Minerals Program regarding negotiated, non-competitive leases for Outer Continental Shelf (OCS) resources such as sand, gravel and shell.
Shipping and offshore maritime sectors must be alert to implications of new U.S. lease accounting standard The Financial Accounting Standards Board (FASB) in the United States has issued a lease accounting standard update following the release in January 2016 of an International Financial
San Francisco, California-based CAI International Inc. (CAI) has reported a fourth-quarter loss of $12.6 million, compared to the profit in the same period a year earlier. CAI aid it had a loss of 62 cents on a per-share basis
A new international accounting standard dealing with leases could have major implications for companies in the shipping and offshore maritime sectors, and particularly for time charterers, according to international accountant and shipping adviser Moore Stephens.