BOEM proposes central Gulf of Mexico Lease Sale 235

The US Bureau of Ocean Energy Management (BOEM) has proposed Gulf of Mexico central planning area Lease Sale 235 for March 2015 in New Orleans. BOEM will make available 7,477 tracts covering 43.5 million acres offshore Louisiana, Mississippi, and Alabama.

Blocks range 3-230 nautical miles offshore in 9-11,000 ft of water, and include those within—or partially within—the 3 statute mile US-Mexico boundary area subject to the terms of the US-Mexico Transboundary Hydrocarbon Agreement.

BOEM estimates the proposed sale could result in production of 460-894 million bbl of oil and 1.9-3.9 tcf of natural gas.

The sale is the seventh offshore sale under the Obama administration’s Outer Continental Shelf oil and gas leasing program for 2012-17. The first six sales offered more than 60 million acres and netted $2.4 billion.