IADC welcomes OCS lease plan announcement, but calls for opening all US waters

Posted on 02 July 2012

IADC welcomes the announcement by Bureau of Ocean Energy Management director Tommy Beaudreau that the next five-year Outer Continental Shelf (OCS) leasing program will provide for 15 lease sales. IADC is also encouraged that another lease sale under the existing program will occur in the Western Gulf of Mexico before the end of this year.

“The remarkable recent Central Gulf sale yielding over $1 billion in bonus bids by industry speaks to the confidence industry has in US offshore resource potential,” remarked IADC president/CEO Stephen A. Colville. “IADC greatly regrets, however, that due to a history of Congressional offshore leasing moratoria, and Presidential moratoria beginning with the George H.W. Bush Administration, most of US waters are closed to exploration and development.  That is completely inconsistent with the nation’s energy needs and with the practice of virtually all other coastal nations with active offshore leasing programs.”

Mr Colville added that IADC is nonetheless pleased to see movement on Arctic OCS development, an area holding huge oil and natural gas reserves. But with the continued moratoria elsewhere, the US is denying itself the potential for a stronger economy, jobs growth and lessened dependence on resources from unstable or unreliable suppliers outside its borders.

“We urge the President and Congress to expand OCS access beyond Alaska and the Gulf of Mexico,” Mr Colville added. “The technology and investment appetite is proven. Drilling contractors are ready and able to do the job.”

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 16 April 2014

    Maersk Drilling takes delivery of ultra-deepwater drillship

    Maersk Drilling has taken the delivery of its second drillship, Maersk Valiant from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South-Korea. Maersk Valiant has begun its voyage toward the...

  • 16 April 2014

    Ensco orders new jackups from Lamprell

    Ensco has ordered two high-specification jackups, ENSCO 140 and ENSCO 141, for delivery in mid-2016 from Lamprell’s shipyard in the United Arab Emirates. The rigs will also...

  • 16 April 2014

    MPD/UBD successfully drills sidetrack after 6 failed conventional drilling attempts

    In the Brookeland Field in East Texas, conventional drilling methods failed in six attempts to drill a “straightforward” horizontal wellbore. The original well had surface casing installed...

  • 16 April 2014

    Chevron’s DGD training program serves array of learners across generations

    Since 2008, more than 400 people – from operators, drilling contractors, service companies and regulators – have completed Chevron’s dual-gradient drilling (DGD) training...

  • 16 April 2014

    Pacific Drilling integrates ‘disruptive’ DGD technology into 7th-generation drillship

    A disruptive technology is one that “gets its start away from the mainstream of a market and, then, as its functionality improves over time, invades the main market,” as defined by Harvard...

  • Read more news