BOEM: Western gulf lease sale to offer 21 million acres

The US Bureau of Ocean Energy Management reported it will offer 20.7 million acres in the western Gulf of Mexico offshore Texas for exploration and development in its upcoming Lease Sale 233. The sale is slated to be held on Aug. 28 in New Orleans.

BOEM estimates that the sale could result in the production of 116-200 million bbl of oil and 538-938 bcf of natural gas. The sale offers 3,864 blocks ranging 9-250 miles offshore in 16-11,000 ft of water.

This is the third lease sale under the Outer Continental Shelf 2012-17 leasing program, and the second of five lease sales being offered covering acreage in the western gulf. In March, BOEM awarded 307 leases for a combined value of $1.2 billion. A total of 7,250 blocks had been offered.

In all, 218.94 million acres are expected to be offered in the program: 93.75 million in the gulf and 125.19 million in Alaska.

The terms of the upcoming August sale differ from the two previous sales because the provision for deep gas royalty relief under the Energy Policy Act of 2005 expired on May 3. Ultradeep gas royalty relief required under EPACT will still be available.

Related Articles

BOEM: Firms bid $850 million in high bids in central gulf lease sale

03/24/2014 The US Bureau of Ocean Energy Management reported that its central Gulf of Mexico Lease Sale 231 received 380 bids from 50 companies on 326 blocks,...

Statoil makes gas find on flank of Visund field in North Sea

03/24/2014 Statoil Petroleum AS has made a natural gas discovery on the northeast flank of Visund field in the northern part of the North Sea, the Norwegian P...

CNOOC makes natural gas discovery in Bohai Bay

03/24/2014 CNOOC Ltd. has made what it describes as a “mid-sized” natural gas discovery in the Bozhong 22-1 structure in the south-central region of Bohai Bay.

Tethys reports second successful gas well in Kazakhstan

03/20/2014 Tethys Petroleum Ltd. reported the success of the second shallow gas exploration well of its 2014 program on the Akkulka block in the Caspian regio...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected