BOEM lease sale to offer 21 million acres in Gulf of Mexico for oil, gas development

Posted on 21 July 2014

The US Bureau of Ocean Energy Management (BOEM) will offer more than 21 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico (GOM) Planning Area, BOEM Acting Director Walter Cruickshank said. “As one of the most productive basins in the world, the Gulf of Mexico is a critical component of the nation’s domestic energy portfolio… This lease sale underscores our commitment to make millions of acres of federal waters available for safe and responsible exploration and development. The decision to move forward with this lease sale follows extensive environmental analysis, public input and consideration of the best scientific information available.”

Western GOM Lease Sale 238, to be held in New Orleans, La., on 20 August 2014, will be the sixth offshore sale under the administration’s Outer Continental Shelf (OCS) Oil and Gas Leasing Program for 2012-2017. This sale builds on the first five sales in the program, which have offered more than 60 million acres and netted nearly $2.3 billion.

Sale 238 will include approximately 4,026 blocks, covering roughly 21.6 million acres, located from nine to 250 miles offshore, in water depths ranging from 16 to more than 10,975 ft (5 to 3,346 m).

BOEM estimates the proposed lease sale could result in the production of 116 million to 200 million bbl of oil and 538 billion to 938 billion cu ft of natural gas.

BOEM will offer blocks located, or partially located, within the three statute mile US-Mexico Boundary Area, as well as blocks within the former Western Gap that lie within 1.4 nautical miles north of the Continental Shelf Boundary (1.4-nautical mile buffer) between the US and Mexico, subject to the terms of the US-Mexico Transboundary Hydrocarbon Agreement.

As of July 2014, BOEM has administered more than 6,100 active oil and gas leases covering nearly 34 million OCS acres. In 2013, oil and gas leases on the OCS accounted for approximately 18% of domestic oil production and 5% of domestic natural gas production.

All terms and conditions for Western Sale 238 are detailed in the Final Notice of Sale information package. Click here for more information. 

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 30 September 2014

    Statoil, Shell and Sonatrach awarded acreage onshore Algeria

    Statoil and Shell were awarded the Timissit Permit License in the Illizi-Ghadames Basin onshore Algeria. The license is in southeastern Algeria and covers an area of 2,730 sq km...

  • 29 September 2014

    Rosneft discovers oil in Kara Sea

    Rosneft successfully completed the drilling of the Universitetskaya-1 well in the Arctic – the northernmost well in the world, according to the company, and discovered oil at the East-Prinovozemelskiy-1 license area...

  • 26 September 2014

    Statoil and PL713 partners discover gas in Pingvin prospect in Barents Sea

    Statoil has together with PL713 partners made a gas discovery in the Pingvin prospect in the Barents Sea. The discovery is a play opener in an unexplored frontier…

  • 26 September 2014

    Maersk Drilling names fourth ultra-deepwater drillship, delivery expected in Q4

    Maersk Drilling’s fourth ultra-deepwater drillship was named Thursday morning in a ceremony at the Samsung Heavy Industries (SHI) shipyard in Geoje-Si...

  • 25 September 2014

    Eni awarded 3 new exploration licenses in Egypt

    Eni was the successful bidder of three new exploration licenses in Egypt as a result of the competitive 2013 EGPC and EGAS bid rounds. The new licenses will be formally awarded after the ratification...

  • Read more news