BOEM to Open Bids for Gulf of Mexico Lease Sale

Posted by Eric Haun
Tuesday, August 19, 2014

The Bureau of Ocean Energy Management (BOEM) Gulf of Mexico Regional Director John Rodi will open the Gulf of Mexico Western Planning Area Lease Sale 238 at 9 a.m. CDT on Wednesday, August 20, 2014 at the Mercedes-Benz Superdome in New Orleans.

The sale, which offers more than 21 million acres for oil and gas exploration and development offshore Texas, is open to the public and news media representatives are invited to attend.
Following the bid reading, a news media teleconference to announce the results of the sale will be conducted by BOEM Gulf of Mexico Deputy Regional Director Michael Celata. Media wishing to participate in the teleconference only should call 1-888-469-1174 by 10 a.m. CDT and provide the passcode GULF SALE.

National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement in advance of tomorrow’s Gulf of Mexico offshore oil and gas lease sale: “U.S. oil and natural gas companies remain committed to the Gulf of Mexico even as 85 percent of federal offshore waters remain closed to exploration. We look forward to tomorrow’s sale, but don’t anticipate any huge surprises in terms of number or size of bids. The Western Gulf of Mexico tends toward natural gas, which is not currently fetching high prices. Nonetheless, we do expect to see healthy interest in both shallow water and deep water tracts.”

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Lease Sale 238 is the sixth offshore sale under the Administration’s Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017 (Five Year Program). The first five sales in the Five Year Program offered more than 60 million acres for development and garnered more than $2.3 billion in bid revenues.

Lease Sale 238 offers all unleased and nonprotected areas in the Western Gulf of Mexico Planning Area, including 4,026 tracts from nine to more than 250 miles off the coast, in depths ranging from 16 to more than 10,975 feet (five to 3,346 meters). BOEM estimates the lease sale could result in the production of 116 to 200 million barrels of oil and 538 to 938 billion cubic feet of natural gas.

When bidding closed today, 14 companies had submitted 93 bids on 81tracts for Western Sale 238. A map showing the location of tracts receiving bids will be available tomorrow at 7 a.m. CDT on the BOEM website at: http://www.boem.gov/Sale-238/.

 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Hornbeck Completes $114M Sale of OSVs to U.S. Navy

Hornbeck Offshore Services has closed the sale of three 250EDF class OSVs to the U.S. Navy, the company announced today.   The three vessels were sold for cash consideration of $114 million,

LTE Deployment Launched in the Gulf of Mexico

Industrial LTE wireless broadband services provider Infrastructure Networks, Inc. (INET) is deploying a pilot LTE system in the Gulf of Mexico.   INET said its

Cheap Oil Threatens Debt Squeeze for Smaller North Sea Producers

Small and mid-sized independent oil producers in the British North Sea could face a financing squeeze this year as banks cut lending linked to the value of oil reserves,

Energy

LTE Deployment Launched in the Gulf of Mexico

Industrial LTE wireless broadband services provider Infrastructure Networks, Inc. (INET) is deploying a pilot LTE system in the Gulf of Mexico.   INET said its

Cheap Oil Threatens Debt Squeeze for Smaller North Sea Producers

Small and mid-sized independent oil producers in the British North Sea could face a financing squeeze this year as banks cut lending linked to the value of oil reserves,

Eniram to Provide Boil-off Management for LNG Sector

Eniram Limited, the Finnish provider of energy management technology and data analytic services to the shipping industry, announced that it is releasing an onboard

News

Her Majesty The Queen to Name Britannia

Her Majesty The Queen, accompanied by His Royal Highness The Duke of Edinburgh, will name the new P&O Cruises vessel Britannia in Southampton on March 10, 2015, P&O Cruises announced.

LTE Deployment Launched in the Gulf of Mexico

Industrial LTE wireless broadband services provider Infrastructure Networks, Inc. (INET) is deploying a pilot LTE system in the Gulf of Mexico.   INET said its

Port Conference Comes to Hamburg

This year’s IAPH World Ports Conference will be held in Hamburg from June 1-5.   International representatives from business, politics and science will gather

Government Update

Brazil Truckers Continue Roadblocks After Crackdown

Striking truck drivers resumed some roadblocks in Brazil on Monday even as the government cracked down on protesters and promised to implement a law to lower toll

Italy to Begin Naval Exercises off Libya

Italy will begin annual naval exercises this week near the coast of Libya, where a breakdown in order has allowed tens of thousands of migrants to try to reach

India to Appoint Coastal Shipping Consultant

As part of Narendra Modi government plan to promote coastal shipping, India is all set to appoint a consultancy firm to assist the Shipping Ministry.    The

Offshore Energy

LTE Deployment Launched in the Gulf of Mexico

Industrial LTE wireless broadband services provider Infrastructure Networks, Inc. (INET) is deploying a pilot LTE system in the Gulf of Mexico.   INET said its

Cheap Oil Threatens Debt Squeeze for Smaller North Sea Producers

Small and mid-sized independent oil producers in the British North Sea could face a financing squeeze this year as banks cut lending linked to the value of oil reserves,

Liebherr Reports Record Year for Offshore Cranes

With 87 units delivered in 2014, Liebherr offshore cranes achieved a new per year delivery record, more than doubling its delivery numbers from 2012. And according to Liebherr,

 
 
Maritime Contracts Naval Architecture Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1932 sec (5 req/sec)