Offshore Lease Generates $115m

Thursday, August 20, 2009

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.

Interior’s Minerals Management Service has held two offshore lease sales this year. Central Gulf of Mexico Lease Sale 208 on March 18 offered 6,458 parcels, encompassing 34.5 million acres; leased 1,784,242 of those acres in 328 parcels; and collected revenue of $690,163,194.40. This Western Gulf of Mexico Lease Sale 210 offered 3,435 parcels, encompassing 18.4 million acres, and generated $115m in revenue.

Western Gulf of Mexico Sale 210 statistics are posted on the MMS website at: www.gomr.mms.gov/homepg/lsesale/210/wgom210.html

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Subsea 7 Awarded $1bn Wind Farm Offshore UK Deal

Subsea 7 S.A. informed today the details of the major(1) contract award that was first announced on 20 May 2016 . The contract was awarded by Beatrice Offshore Windfarm Limited (BOWL)(2),

BW LPG Registers 10% Growth in VLGC Fleet

Less domestic petrochemical consumption of LPG would be positive for VLGC shipping as it would result in a greater surplus of LPG available for export.    However,

Subsea 7 Secures EPCI Contract

Subsea 7 S.A. announced it has been awarded an engineering, procurement, construction and installation (EPCI) contract for offshore execution in 2017 and 2018.   The

 
 
Maritime Careers / Shipboard Positions Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0693 sec (14 req/sec)