W&T Offshore Says Apparent High Bidder on 15 Blocks in GOM Lease Sale
March 25, 2019
W&T Offshore Announces Increase in Prospective Acreage as the Apparent High Bidder on 15 Blocks in the Latest Gulf of Mexico Lease Sale
Gulf Lease Sale Generates $178 Million
August 16, 2018
Zinke pauses on lowering royalty rate From the Houston Chronicle A federal lease sale in the Gulf of Mexico Wednesday generated $178 million in winning bids, raising expectations that drillers’ confidence in the region is rising. After a March auction that had been billed as the largest in U.S. history only generated $125 million, many began to wonder whether the
U.S. to offer 48 Million Acres in its Last Central Gulf of Mexico Oil & Gas Lease Sale
December 22, 2016
Final Notice of Sale announces lease terms for available acreage offshore Louisiana, Mississippi and Alabama – Lease Sale Number 247 is Mar. 22, 2017 Two days after President Obama used his pen to indefinitely ban most of the Arctic and some of the Atlantic to oil and gas drilling, the Bureau of Ocean Energy Management (BOEM) announced its Notice of
Supermajors Spend $1.2 Billion to Secure Drilling Rights Offshore Canada
November 13, 2015
Statoil Plays Largest Role, Locks Up Interests in Six Blocks Some of the industry’s largest players spent $1.2 billion in a Canada offshore lease sale on November 12, 2015, securing a foothold in an area estimated to hold as much as 12 billion barrels of oil and 113 trillion cubic feet of gas. Statoil (ticker: STO) was a consistent player
Colorado BLM Lease Sale Nets $32.1 Million
May 18, 2015
Over 25,000 acres of federal forest land auctioned in recent BLM sale In its largest oil and gas lease sale in Colorado since 2008, the Bureau of Land Management (BLM) sold 73 parcels totaling 32,962 acres for $32.1 million last Thursday. The highest per-acre price was for a 1,919-acre parcel in Weld County, sold to Ironhorse Resources for $10,100 per
At $51 Billion, Alaska’s Hydrocarbons Fuel the Country’s Largest Trust Fund: EIA
May 1, 2015
State’s Permanent Fund Pays Annual Cash Dividend to All Residents The 49th state has its perks. All Alaskans get an annual dividend check from the state. In 2014 their checks were $16 shy of $1,900 per resident. Residents can thank their state for the royalties generated by oil and gas production on state lands that go into The Alaska Permanent Fund, established in
Oil & Gas Development on the East Coast Takes Next Step
January 27, 2015
The United States Department of the Interior, in conjunction with President Obama, Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management Director Abigail Ross Hopper, released a Draft Proposed Program for development of offshore properties in an official release on January 27, 2015. The Program opens up 14 potential lease sales in eight planning areas, including: 10
BOEM Schedules Eastern GOM Sale – First Eastern Sale Since 2008
December 4, 2013
On December 3, 2013, the Bureau of Ocean Energy Management (BOEM) announced the Eastern Gulf of Mexico oil and gas lease sale 225 will take place on March 19, 2014. The sale is the first proposed for the Eastern Planning Area of the Gulf of Mexico (GOM) under President Obama’s 2012 to 2017 outershelf program, and will be the first
Companies Cautious With Western Gulf of Mexico Lease Sale 233
August 28, 2013
The Bureau of Ocean Energy Management (BOEM) held its Western Gulf of Mexico (GOM) Lease Sale 233 on August 28, 2013, which raised $102.4 million in high bids. The event auctioned 3,873 tracts from nine to 250 miles offshore, in water depths ranging from 16 to more than 10,975 feet. By comparison, the Central Gulf of Mexico Lease Sale netted
Central Gulf of Mexico Lease Sale – Come on in, the Water is Fine!
March 21, 2013
The Bureau of Ocean Energy Management (BOEMRE) held its Central Gulf of Mexico lease sale on March 20, 2013, generating $1.2 billion for the U.S. government. Approximately 52 companies submitted 407 bids on 320 tracts off the coasts of Louisiana, Alabama and Mississippi. The tracts, covering more than 1.7 million acres and are in water depths of nine to more
