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
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
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
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
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
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
Louisiana’s governor warned that the state would not support future offshore lease sales in the Gulf of Mexico unless Louisiana gets a share of the federal royalties generated by oil production there. Under a federal law that governs offshore drilling, governors in adjacent states are required to agree that federal lease sales are consistent with their states' coastal management plans. Louisiana governors have traditionally signed off on such lease sales
Several major oil companies are apparently willing to discuss a change in their offshore-drilling leases that, because of a government error, could give the industry a $10 billion windfall, AP reported While some companies, such as Exxon Mobil, reportedly believe the lease contracts should be honored, others, including Shell, reportedly are open to a dialogue on the matter. The error in the 1998-99 lease contracts for deepwater drilling in the Gulf of Mexico could cost the government $10
BOEM's 'Final Environmental Impact Statement (FEIS)' will aid decision-making on Gulf of Mexico oil & gas lease sales The Department of the Interior’s Bureau of Ocean Energy Management (BOEM) has completed the Final Environmental Impact Statement (FEIS), with environmental analysis that will support decision-making concerning oil and gas lease sales scheduled in the Gulf of Mexico over the next five years.
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
Dana Gas said it has signed an agreement for the North El Arish (Block 6) Concession Area, offshore the eastern Nile Delta. The 2,980 sq. km block was awarded in April 2013 as part of a competitive bidding process. This is the company’s first offshore block in Egypt
By Ayesha Rascoe, Reuters The Obama administration on Thursday laid out a framework for assessing the amount of crude off the Atlantic coast, another step toward possibly allowing oil production in an area that has been out of reach for decades.
Formerly financially troubled FSL Trust Management (FSL Trust) says in its latest FY 2013 report that it has successfully secured a loan covenant relaxation until 31 December 2014, which they hope will enable them to move forward.
Ben Billings serves as President & CEO of the Offshore Marine Service Association (OMSA), a nationwide trade association headquartered in New Orleans that represents more than 200 member companies. OMSA’s membership includes approximately 100 firms operating more than 1
Greek-based Aegean Marine Petroleum Network Inc. has entered into an agreement to acquire the U.S. East Coast bunkering business of Hess Corporation. Hess Corporation is currently the leading marketer of marine fuels along the U.S. East Coast
Singapore's First Ship Lease Trust (FSL Trust) has announced the suspension of trading in its shares pending an announcement to clarify lenders' position in relation to a covenant waiver or relaxation for 30 September 2013. About FSL Trust
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
BP says it has made a significant oil discovery at its Gila prospect (which it co-owns with ConocoPhillips) in the deepwater US Gulf of Mexico. This is BP’s third discovery in recent years in the emerging Paleogene trend in the Gulf of Mexico and reflects the company’s ongoing
Global Ship Lease, Inc. (GSL) has announced that due to market conditions, it has chosen not to proceed with its previously announced secured notes offering at this time. Earlier, GSL had announced that it planned to issue an aggregate principal amount of up to $400,000
Intelsat today issued the following statement: The National Defense Authorization Act (NDAA) directs the Department of Defense to move toward multiyear leases and hosted payloads to acquire commercial satellite capacity and services. The leaders of the commercial satellite industry have
Sustaining the ongoing boatbuilding boom can involve the lawful use of foreign finance streams. James Kearns takes a closer look at the practice. The citizenship requirements for vessels engaged in the U.S. coastwise trade are generally well-known
National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement on the hearing on seismic exploration on the Atlantic Outer Continental Shelf held today by the House Committee on Natural Resources, Subcommittee on Energy and Mineral Resources.
Following the 19 November 2013 suspension of trading of First Ship Lease Trust (FSL) on the Singapore Stock Exchange, the Board of Directors informs that the company remains in on-going discussions with lenders to seek a longer loan covenant relaxation and are working hard to resolve the situation
A three-judge panel of the U.S. Ninth Circuit Court of Appeals has issued a ruling against the Department of Interior and oil companies including Shell in favor of environmental and Alaska Native groups and concluded the federal government failed to properly evaluate the scale of oil production
On the heels of President Obama’s State of the Union address where he laid out actions to move the economy toward clean energy sources, reduce carbon pollution and create jobs, Secretary of the Interior Sally Jewell has announced an important step forward for the first offshore wind project