Obama Administration Offers Over 20 Million Acres
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
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
Birnbaum Hosts Western GOM Lease Sale 210
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
BOEM: 38 Million-Acre Oil &Gas Lease Sale in the Central GOM
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
BOEM Takes Bids for GoM Lease Sale
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.
GoM Sale Yields $110m in High Bids
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
BOEMRE: Proposed Gulf of Mexico Oil and Gas Lease Sale
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
Public Meeting in New Orleans for OIl & Gas Leasing
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 Proposes Central Gulf of Mexico Lease Sale
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
High Bids in Western GofM Lease Sale
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
Container Equipment Leasing Rates Under Pressure
Leasing companies are tightening their stranglehold over container equipment ownership as ocean carriers cut back on new purchasing and sell older inventory for leaseback, Drewry's report said. But the lessors’ rapid expansion has come at a price as the combination of low borrowing costs and competitive pressures has had an adverse impact on lease rates and accompanying investment returns.
GSL Extends TC with CMA CGM
Global Ship Lease, Inc., a containership charter owner, has announced that it has signed time charter extensions with CMA CGM for two 2,207 TEU containerships, the 2002-built Julie Delmas and the 2003-built Delmas Keta. The vessels will be chartered for a period of 12 months (plus or minus 45 days at charterer’s option) at a fixed rate of $7,800 per vessel per day, commencing immediately upon expiration of the current time charters on September 11 and 20, 2017
Total, Chevron Team up in Gulf of Mexico Oil Exploration
Total announced that its subsidiary, TOTAL E&P USA, INC., has entered into an agreement to capture seven prospects operated by CHEVRON U.S.A. INC. in the deepwater Gulf of Mexico. The agreement covers 16 blocks. The associated prospects are located in two promising plays and areas of the GoM: Wilcox in Central GoM next to the Anchor discovery, and Norphlet in Eastern GoM nearby to the Appomattox discovery
Op/Ed: ASTRO Act Shoots For the Stars
National Ocean Industries Association (NOIA) president Randall Luthi weighs in after the House Natural Resources Committee held a hearing on offshore development and introduced the Accessing Strategy Resources Offshore (ASTRO) Act. Today’s hearing was a slam dunk by the House Natural Resources Committee. Not only did the Committee bring in experts and stakeholders with their own unique offshore perspectives to the hearing
Peterson to Develop New Port Cameron
International energy logistics provider Peterson is to partner with Port Cameron in Louisiana to develop a deepwater staging port and supply base facility serving the Gulf of Mexico. Peterson has signed a teaming partnership agreement with Port Cameron for the development of a 500-acre deep water staging port. Upon completion, Port Cameron in Louisiana will be one of the largest private energy services facilities on the Gulf Coast.
TGS, Schlumberger reimaging central GOM
TGS-NOPEC Geophysical Company (TGS) and Schlumberger today announced a new multi- and wide-azimuth (M-WAZ) multiclient reimaging program in the highly prospective Central U.S. Gulf of Mexico. Final results are expected in early 2018, ahead of a period when substantial block turnover in the area is anticipated. The new Fusion M-WAZ reimaging program comprises data covering more than 1,000 Outer Continental Shelf (OCS) blocks (~23
BOEM : Potential Cook Inlet Lease Sale
The Bureau of Ocean Energy Management (BOEM) today announced it plans to offer approximately 1.09 million acres in Cook Inlet off Alaska’s southcentral coast in a proposed lease sale this year. Cook Inlet Oil & Gas Lease Sale 244, scheduled to take place in June 2017, would offer 224 blocks toward the northern part of the Cook Inlet Planning Area for leasing. The blocks stretch roughly from Kalgin Island in the north to Augustine Island in the south.
BHP Billiton, Pemex sign Trion Contract
BHP Billiton has advanced its exploration and production interests in the Gulf of Mexico by executing a contract with PEMEX Exploration & Production Mexico (Pemex) to complete work on the significant Trion discovery in Mexico. In December 2016, BHP Billiton successfully bid on the resource that, once fully appraised, is expected to be in the top 10 fields discovered in the Gulf of Mexico in the last decade.
Global Ship Lease Reports 4Q Loss
UK-based containership owner Global Ship Lease (GSL) has reported a fourth-quarter loss of $54.3 million, after reporting a profit in the same period a year earlier. It posted revenue of $41.4 million in the period. Operating revenues for the year ended December 31, 2016 were $166.5 million. For the year, the company reported that its loss widened to $65.1 million. Ian Webber, Chief Executive Officer of Global Ship Lease, stated, "In 2016
Offshore Wind: BOEM Fields Pair of Unsolicited Bids
BOEM has received unsolicited lease requests from two companies seeking to develop offshore wind energy on the Outer Continental Shelf (OCS). These requests are for areas located offshore New York and Massachusetts and are not in response to a formal call for interest. BOEM has finished its review of the unsolicited lease requests and deemed the requests complete. Moreover, BOEM has reviewed the applicants' qualification materials and determined that the applicants are legally
Statoil Wins Licences Off UK, 'Resets' Exploration Off U.S.
Norway's Statoil was the second top bidder for 13 oil exploration leases in the U.S. Gulf of Mexico and won six licences offshore Britain, it said on Thursday, in a sign it may be looking to boost reserves after slashing costs. "The importance of oil companies' ability to replenish reserves after several years of spending cuts is increasing as oil prices stabilize, brokerage RBC Capital Markets said in a note on Thursday."
Global Ship Lease Report Q1 Financials
The containership charter owner Global Ship Lease (GSL) has reported first-quarter net income of $6.8 million. Its revenue stood at $39.6 mln for the Quarter. Ian Webber, Chief Executive Officer of Global Ship Lease, stated, "During the first quarter of 2017, we continued to execute our core strategy, maximizing the value of our long-term time charters with high-quality counterparties, maintaining high levels of vessel utilization and closely controlling costs
BOEM Offers Cook Inlet Blocks Offshore Alaska
The Bureau of Ocean Energy Management (BOEM) announced it will offer approximately 1.09 million acres off Alaska’s southcentral coast in a lease sale scheduled for June 21. Cook Inlet Oil & Gas Lease Sale 244 will offer 224 blocks toward the northern part of the federal Cook Inlet Planning Area for leasing. The blocks stretch roughly from Kalgin Island in the north to Augustine Island in the south.
Charters Joins NOAI Staff
Tim Charters has joined the staff of the National Ocean Industries Association (NOIA) as Senior Director of Governmental and Political Affairs. Charters comes to NOIA from the National Stripper Well Association (NSWA) where he represented more than 18,000 small business men and women in America’s upstream energy industry as Vice President of Governmental and Regulatory Affairs. Charters brings nearly 20 years of Congressional experience to NOIA
Latest Gulf of Mexico Auction Signals Offshore Return
Major oil producers pushed up high bids at a Gulf of Mexico offshore auction to $121 million on Wednesday, a nearly seven-fold increase from a year ago, as their return to deep water exploration gained momentum. This compared with $18 million in high bids at the Bureau of Ocean Energy Management's (BOEM) Outer Continental Shelf auction last summer. Winners will be announced after a 90-day review.