BOEMRE Funds Beach and Dune Restoration in Louisiana
The Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) has awarded two Coastal Impact Assistance Program (CIAP) grants totaling $481,978 to the state of Louisiana and Vermilion Parish, La. The grants will fund beach and dune restoration planning along the West Caminada Headland in Lafourche Parish, La., and a shoreline protection and marsh creation plan at Tiger Point in Vermilion Parish. Created by the Energy Policy Act of 2005, CIAP provides funding to the six Outer Continental Shelf (OCS) oil and gas producing states to conserve and protect the coastal environment. CIAP is an ongoing program with grant funding that is allocated based on the offshore energy revenues collected by the United States.
Drilling Successes and Cost Reductions Offset Production Decline
Unocal Corporation's Spirit Energy 76 unit said its exploration drilling successes and aggressive development program on the Gulf of Mexico shelf area in the first half of 1999 should more than offset the natural production declines for the year. "We have a long record of low drilling and operating costs on the shelf, which enables us to enjoy returns that cannot be matched by the typical shelf operator," said Roger C. Beach, Unocal chairman and CEO. Beach noted Spirit Energy's GOM shelf prospects are predominantly natural gas and deliver production quickly, making them extremely attractive in the current capital-constrained environment.
