Gulf Of Mexico Lease Sale News

25 Sep 2018

Smarter Energy Policy Will Broaden Offshore Recovery

For the past few years, depressed commodity prices, stricter regulatory requirements and competition from onshore development at home and from other countries offering attractive offshore lease and royalty terms have had severe impacts on new exploration in the U.S. Gulf of Mexico. Thankfully, the tide appears to finally be turning.In August, Gulf of Mexico Lease Sale 251 drew increased competition for offerings and $178 million in high bids, $53 million more than previous sale held in March.

15 Aug 2018

Signs of Recovery in the US Gulf of Mexico

© Theerapong / Adobe Stock

Today's U.S. auction of Gulf of Mexico exploration leases drew tepid response from oil companies, but marked notable progress for an industry still in a state of recovery.“While not a barn burner, Lease Sale 251 tops the previous Gulf sale in terms of increased participation, increased competition for offerings, and bid amounts,” said Randall Luthi, president of the National Ocean Industries Association (NOIA). “In addition, bidding activity demonstrates both continued interest in deepwater tracts and renewed interest in shallow water tracts.”Luthi continued…

10 Aug 2018

Gulf of Mexico Lease Sale to Test Response to Trump-era Regulations

(File photo: Shell)

A federal auction of exploration leases in the Gulf of Mexico next week will test energy companies' appetite for acreage after the Trump administration left royalty rates for deepwater parcels unchanged, bucking an industry call to lower them.The U.S. Gulf of Mexico has faced waning interest in recent years as competition stepped up from other basins globally, as well as from onshore shale basins and Mexico's waters in the Gulf.Oil companies had lobbied for lower royalty payments for deepwater acreage because of the projects' high cost and long lead time before production can begin.

21 Mar 2018

GoM Lease Sale to yield greater focus : NOIA

NOIA President Randall Luthi Photo NOIA

“The historic size of tomorrow’s Region-wide Gulf of Mexico lease sale, combined with improving market conditions and a shallow water incentive, may draw more interest from industry than we have seen in recent years. “Operators are global in nature and will bid where they believe they will get the most ‘bang for their buck’. The results of recent sales in the Mexican side of the Gulf of Mexico demonstrate that the United States cannot tread water by offering the same acreage time and time again without additional incentives.

22 Dec 2016

BOEM Oil and Gas Lease Sale: 48m Acres

The Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper announced the bureau will offer more than 48 million acres offshore Louisiana, Mississippi, and Alabama for oil and gas exploration and development, in a lease sale that will include all available unleased areas in the Central Planning Area (CPA). “As one of the most productive basins in the world, the Gulf of Mexico remains an important component of our domestic energy strategy to create jobs, foster economic opportunities, and reduce America’s dependence on foreign oil,” Hopper said. BOEM will livestream Central Gulf of Mexico Lease Sale 247 on March 22, 2017. Livestreaming the sale enables BOEM to deliver pertinent bid information immediately to a much broader national and international audience.

18 Aug 2015

US to Open Bids for Gulf of Mexico Lease Sale

The U.S. Bureau of Ocean Energy Management (BOEM) said it is set to conduct a Gulf of Mexico Western Planning Area Lease Sale 246 on Wednesday, August 19 at the Mercedes-Benz Superdome in New Orleans. Doors open at 7:30 and bid reading begins at 9 a.m. CDT. As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Lease Sale 246 is the eighth offshore sale under the Administration’s Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017 (Five Year Program). The first seven sales in the Five Year Program offered more than 60 million acres for development and garnered more than $2.9 billion in bid revenues.

14 Aug 2015

NOIA Supports DOI’s Upcoming Offshore Lease Sale

National Ocean Industries Association (NOIA) president Randall Luthi today voiced his support for the U.S. Department of Interior’s (DOI) Western Gulf of Mexico Lease Sale scheduled for next week. “The call to delay next week’s Department of the Interior Western Gulf of Mexico oil and natural gas lease sale shows how out of touch with energy reality and the American people some extremist environmental groups are,” Luthi said in a statement issued today. “Due to low oil prices and increasing regulatory burden, this is not expected to be a momentous sale, but even so, the oil and gas industry will add hundreds of thousands of dollars to the U.S. Treasury.

17 Oct 2014

BOEM Proposes O&G Lease Sale in Gulf of Mexico

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Bureau of Ocean Energy Management (BOEM) Acting Director Walter Cruickshank today announced that the bureau will offer 40 million acres offshore Louisiana, Mississippi and Alabama for oil and gas exploration and development in a sale that will include all available unleased areas in the Central Gulf of Mexico Planning Area. Proposed Central Gulf of Mexico Lease Sale 235, scheduled to take place in New Orleans, Louisiana, in March of 2015, will be the seventh offshore sale under the Administration’s Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017 (Five Year Program).

21 Aug 2014

High Bids in Western GofM Lease Sale

Offshore rig fronting GoM map: File image

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,” said Interior Deputy Secretary Mike Connor.

20 Aug 2014

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 safe and responsible exploration and development of offshore energy resources,” said Interior Deputy Secretary Mike Connor. Today’s lease sale, which offered 21.6 million acres…

19 Aug 2014

BOEM to Open Bids for Gulf of Mexico Lease Sale

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.

15 Apr 2014

BOEM Proposes GoM Oil and Gas Lease Sale

Photo courtesy BOEM

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau today announced that the bureau will offer more than 21 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area. Proposed Western Gulf of Mexico Lease Sale 238…

04 Dec 2013

BOEM Proposes Eastern 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 Eastern Planning Area oil and gas lease sale 225 in New Orleans on March 19, 2014, immediately following the proposed Central Planning Area (CPA) Sale 231. Proposed Sale 225 is the first lease sale proposed for the Eastern Planning Area under the 2012 – 2017 Outer Continental Shelf Oil and Natural Gas Leasing Program, and the first sale offering acreage in that area since Sale 224, held in March of 2008. “This proposed sale is another important step to promote responsible domestic energy production through the safe…

25 Oct 2013

BOEM Proposes Central Gulf of Mexico Lease Sale

Photo: BOEM

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. The auction will offer 39 million acres offshore Louisiana, Mississippi, and Alabama, include all available unleased areas in the CPA.

28 Aug 2013

Gulf of Mexico Lease Sale Yields $102.4 Million 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, the Department of the Interior’s Bureau of Ocean Energy Management today held Western Gulf of Mexico Lease Sale 233, which offered 20.7 million acres and attracted $102,351,712 in high bids for 53 tracts covering 301,006 acres on the U.S. Outer Continental Shelf (OCS) offshore Texas. A total of 12 offshore energy companies submitted 61 bids. The Western Gulf of Mexico Lease Sale builds on the first two auctions in the current Five Year Program – a 39-million-acre Central Gulf offering held in March, which netted almost $1.2 billion high bids and a 20-million-acre Western Gulf offering held last November that netted nearly $134 million.

27 Aug 2013

Western Gulf of Mexico: 21 Million Acres up for O&G Development

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau announced that BOEM will hold a lease sale tomorrow that will make nearly 21 million acres offshore Texas available for oil and natural gas exploration and development. BOEM estimates that Western Gulf of Mexico Lease Sale 233 could lead to the production of up to 200 million barrels of oil and 938 billion cubic feet of natural gas. During tomorrow’s lease sale, BOEM will open 61 bids submitted by 12 companies on 53 offshore blocks. “Safe and responsible development of the Gulf of Mexico’s vital energy resources will continue to help power our nation and drive our economy…

29 Jul 2013

Nearly 21 Million Acres for Sale in Gulf of Mexico

The Bureau of Ocean Energy Management (BOEM) announced final details for the Western Gulf of Mexico Lease Sale 233. The sale will take place on August 28 and will cover roughly 20.7 million acres million acres offshore Texas for oil and gas exploration and development. The bureau estimates the proposed 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. The sale offers 3,864 blocks, located from nine to 250 miles offshore, in water depths ranging from 16 to more than 10,975 feet (five to 3,346 meters). The sale, which will be held at the Mercedes-Benz Superdome in New Orleans, includes all available unleased or non-protected areas in the Western Gulf of Mexico Planning Area.

17 May 2012

Final Details for Upcoming Central GOM O&G Lease Sale

New Orleans -- Today the Obama Administration provided final details for the Central Gulf of Mexico lease sale announced by President Obama in January 2012, as part of his administration’s ongoing focus on expanding safe and responsible production of our domestic energy sources. Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau today announced the Final Notice of Sale for a June 20, 2012 lease sale that will make available all unleased areas in the Central Gulf of Mexico Planning Area, offshore Louisiana, Mississippi and Alabama, including 7,276 blocks on about 38.6 million acres. The sale will take place at the Mercedes-Benz Superdome in New Orleans.

23 Jul 2012

Offshore Energy Lease Sale Announced by US Administration

As part of President Obama’s all-of-the-above energy strategy to expand safe and responsible domestic energy production, Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau announce that BOEM will offer more than 20 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area. Proposed Western Gulf of Mexico Lease Sale 229, scheduled to take place in New Orleans on November 28, 2012, will be the first offshore sale under the Administration’s new Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017 (Five Year Program).

24 Sep 2012

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, will offer all unleased areas in the Central Gulf of Mexico Planning Area, offshore Louisiana, Mississippi, and Alabama and could lead to the production of up to nearly a billion barrels of oil and nearly 4 trillion cubic feet of natural gas.

25 Oct 2012

Obama Administration: More Than 20 Million Acres Offshore Texas for Bid

As part of President Obama’s all-of-the-above energy strategy, Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau released the final details for an oil and gas lease sale that will offer more than 20 million acres offshore and will make available all unleased areas in the Western Gulf of Mexico Planning Area. Western Gulf of Mexico Lease Sale 229, which will be held on November 28, 2012, in New Orleans, will build on two major Gulf of Mexico lease sales in the past year—a 21 million acre sale held last December and a 39 million acre sale held in June—and supports the Administration’s goal of continuing to increase domestic oil and gas production…

08 Nov 2012

BOEM Seeks Comments on Environmental Review

Public Hearings Scheduled to provide opportunities for public input. The Bureau of Ocean Energy Management has completed a draft Supplemental Environmental Impact Statement (SEIS), providing updated environmental and socioeconomic analysis to support two proposed lease sales in the Gulf of Mexico. Western Gulf of Mexico Lease Sale 233 is tentatively scheduled for 2013 in the Western Planning Area (WPA), offshore Texas; and Central Gulf of Mexico Lease Sale 231 is scheduled for 2014 in the Central Planning Area (CPA), offshore the states of Louisiana, Mississippi and Alabama. BOEM will hold public hearings to provide an opportunity for interested citizens and organizations to comment on the environmental impact statement. Comments will be used to prepare the final SEIS.

30 Nov 2012

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.

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