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Natural Gas Leases News

12 Apr 2021

A Favorable Fetch for US Offshore Wind

© Fokke / Adobe Stock

Offshore wind caught a favorable gust with the 2020 election of Joe Biden, and the following breeze from the early 2021 reconfiguration of the U.S. Senate toward Democrats. Though widely touted as a growth engine for maritime businesses (as well as shoreside trades), the latter years of the Trump administration seemed to see delay after delay.The class society DNV has been involved in offshore wind since its outset in the early 1990s, and now has 2,000 energy experts working in its efforts supporting this power source.

01 Apr 2021

Ready Your Salad Fork for Biden’s Offshore Energy Plans

© shaunwilkinson / Adobe Stock

In Antony and Cleopatra, Shakespeare coined the phrase “salad days” to mean a youthful time filled with unbridled enthusiasm and idealism. Indeed, youth, much like salad, is often raw, flavorful and most of all… green. Therefore, it is fitting to think of our present time as the salad days of offshore energy in the United States. Let’s dig in.Executive Order appetizersOn January 27, President Biden took early steps to implement his campaign promise to transition the United States away from fossil fuels and invest in renewable energy…

20 Aug 2009

Offshore Lease Generates $115m

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. 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.

13 Apr 2000

Lease Sale in GOM Attracts $ 300 Million in High Bids

The U. S. Department of the Interior's Minerals Management Service (MMS) in New Orleans held a sale of offshore oil and natural gas leases in the Gulf of Mexico, attracting $300.6 million in high bids from 63 companies. Sale 175 is the ninth lease sale held subject to the provisions of the Deep Water Royalty Relief Act, passed in 1995. Of 4,203 tracts comprising approximately 22.3 million acres offshore Alabama, Louisiana, and Mississippi offered, the MMS received 469 bids on 344 tracts. The total of all bids was $454.9 million. The highest bid received was $23 million submitted by Exxon Asset Management Company for Mississippi Canyon Block 555. Approximately 34 percent of the tracts receiving bids are in ultra-deep water (more than 2,624 ft.).

16 Mar 2006

GOM Lease Sales Up 38%

Near record oil and gas prices led to robust bidding in an offshore federal lease sale today. The Central Gulf of Mexico Lease Sale 198, garnered $588,309,791 in high bids from 82 companies for oil and natural gas leases in the Federal waters of the Gulf of Mexico. The total of all bids was $978,310,887. This represents a 38% increase over last years Central Gulf Sale. The sale, held March 15 in New Orleans, was conducted by the Minerals Management Service. In Sale 198 the agency received 707 bids on 405 tracts. Johnnie Burton, Director of the Minerals Management Service, spoke briefly at the sale. “The Department is committed to working with all interested parties to enhance energy development in an environmentally responsible manner in available areas of the Gulf,” she said.

26 Aug 1999

Gulf of Mexico Lease Sale Attracts $171 Million in High Bids

The U.S. Department of the Interior's Minerals Management Service (MMS), in New Orleans, held a sale of offshore oil and natural gas leases in the Central Gulf of Mexico attracting $171.8 million in high bids from 67 companies. Sale 172 is the seventh lease sale held subject to the provisions of the Deep Water Royalty Relief Act, passed in 1995. The MMS received 272 bids on 207 offshore tracts. 3,806 tracts comprising approximately 20,368,385 million acres offshore Alabama, Louisiana, and Mississippi were offered. The total of all bids was $199.6 million. The highest bid received was $16.6 million, submitted by Marathon Oil Company and Kerr-McGee Oil and Gas Corporation for Walker Ridge, Block 121.

26 Aug 1999

Deepwater Drilling Provides Good Long Term Prospects

According to the U.S. Department of the Interior's Minerals Management Service (MMS), deepwater drilling (1,000 ft. and deeper) shows the greatest potential of development, and certainly has garnered the attention (as well as the E&P dollars) of offshore oil production industry leaders. By yearend 2003, the MMS estimates as much as 63 percent of the oil production and 29 percent of the daily gas production will come from deepwater reserves. In August of 1998 there were 30 (temporary and permanent) deepwater rigs drilling simultaneously in the Gulf of Mexico's Outer Continental Shelf (OCS), at depths greater than this. The proliferation of deepwater development projects will likely continue to grow…