BOEM schedules central gulf lease sale for March 2014

The US Bureau of Ocean Energy Management reported it will conduct Lease Sale 231—to auction off oil and gas tracts in the central Gulf of Mexico planning area—on Mar. 19, 2014, in New Orleans.

Thirty-nine million acres will be made available offshore Louisiana, Mississippi, and Alabama, encompassing 7,508 unleased blocks. The locations of the blocks range 3-230 miles offshore in 9-11,115 ft of water. BOEM said the proposed lease sale could net 1 billion bbl of oil and 4 tcf of natural gas in production.

“The sale sets fiscal terms that will continue to ensure fair return to taxpayers and includes conditions to encourage diligent development as well as ensure an appropriate balance of orderly resource development with protection of the human, marine, and coastal environments,” BOEM said.

This is the fourth lease sale to be held in the 2012–17 Outer Continental Shelf leasing program (OGJ Online, Nov. 8, 2012). During Central Gulf Lease Sale 227, held in March 2012, industry only bid for 4.4% of the blocks offered with a total high bonus of $1.2 billion (OGJ Online, Mar. 20, 2013).

November 2012’s Western Gulf Lease Sale 229 saw 13 companies submit bids for 116 of 3,873 blocks offered, accounting for just 3% of 20.75 million acres. Apparent high bids totaled $133.7 million during that sale (OGJ Online, Nov. 29, 2012).

In August, BOEM’s Western Gulf Lease Sale 233 received 61 bids for 53 tracts covering just 301,006 acres out of nearly 21 million available acres. High bids totaled $102,351,712—the smallest amount so far in the leasing program (OGJ Online, Aug. 28, 2013).

Related Articles

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...

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

03/19/2014 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,...

CNOOC makes gas discovery in Qiongdongnan basin

03/19/2014

CNOOC Ltd. has made a natural gas discovery in the east Lingshui Sag of the deepwater area in the South China Sea’s Qiongdongnan basin.

Cairn, FAR to drill exploration wells offshore Senegal

03/19/2014

FAR Ltd., Perth, will participate in the drilling of two deepwater exploration wells offshore Senegal next month.

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