Image resource; BOEM
Yesterday’s region-wide Gulf of Mexico Lease Sale 253 created $159,386,761 in high proposals for 151 systems covering 835,006 acres in government waters of the Gulf ofMexico A total amount of 27 business joined the lease sale, sending $174,922,200 in all proposals.
The high quote total amount was 10 percent much less than last summertime’s public auction.
Still, Andrea Travnicek Deputy Assistant Secretary for Land and also Minerals Management at the Department of the Interior proclaimed “We are excited about the results from today’s lease sale, which show a continued upward trend for the year. The total from today’s lease sale and the March sale is the highest since 2015 for high bids.”
Lease Sale 253 consisted of 14,585 unleased blocks, situated from 3 to 231 miles offshore, in the Gulf’s Western, Central and also Eastern Planning Areas in water midsts varying from 9 to greater than 11,115 feet (3 to 3,400 meters).
The complying with were left out from the lease sale:
One obstructs based on the legislative halt developed by the Gulf of Mexico Energy Security Act of 2006, 2 blocks beside or past the UNITED STATE Exclusive Economic Zone in the location called the north part of the Eastern Gap, and also (3) entire blocks and also partial blocks within the borders of the Flower Garden Banks National Marine Sanctuary.
“The Gulf of Mexico is the crown jewel of our nation’s energy portfolio,” stated Mike Celata, supervisor of BOEM’sNew Orleans Office “As one of the most productive basins in the world, the development of its resources are essential to the nation’s energy security.”
Lease Sale 253, livestreamed from New Orleans, was the 5th overseas sale held under the 2017-2022 National Outer Continental Shelf Oil and alsoGas Leasing Program Under this program, 10 region-wide lease sales are arranged for the Gulf, where source capacity and also market rate of interest are high, and also oil and also gas facilities is well developed. Two Gulf lease sales will certainly be held annually and also consist of all readily available blocks in the integrated Western, Central, and also Eastern Gulf of Mexico Planning Areas.
All terms for Gulf of Mexico Region- vast Sale 253 are outlined in the Final Notice of Sale info plan, which is readily available HERE
NOIA: Result “Somewhat modest”
National Ocean Industries Association (NOIA) Vice President of Communications and also Member Development Nicolette Nye provided the complying with declaration complying with the lease sale 253:
“The rather moderate outcomes of lease sale 253 show the carefully confident perspective of an overseas market still in recuperation. While business have actually boosted the effectiveness of their procedures and also gear prices and also supply chain costs are much more affordable, oil costs stay level. Bidding task today might show the slower than wanted renovation in costs. There is likewise unpredictability bordering pending regulative activities such as monetary guarantee and also reasonable market evaluation.
“Deepwater and ultra-deepwater tracts drew high interest in this sale but shallow water tracts also proved to be attractive. Overall, todays’ sale demonstrates that the offshore oil and gas industry remains committed to the U.S. Gulf of Mexico. Each newly leased block represents a chance for further exploration, development and economic and energy opportunity. The U.S. Gulf of Mexico will continue to be a vital part of America’s economic and energy future.”
