The US Minerals Management Service has scheduled Lease Sale 208 for the Central Planning Area (CPA) in the Gulf of Mexico for Mar. 18, 2009.
MMS estimates the proposed sale could result in production of 0.807-1.336 billion bbl of oil and 3.365-5.405 tcf of natural gas. The acreage lies 3-230 miles offshore in 3-3,400 m of water.
The sale encompasses 6,200 unleased blocks covering more than 33.5 million acres off Louisiana, Mississippi, and Alabama. This area includes 5.8 million acres in the southeastern part of the CPA known as the 181 South Area, which will be offered for lease for the first time since 1988.
“What makes Sale 208 noteworthy is the addition of the 181 South Area,” said MMS director Randall Luthi. “The states of Alabama, Mississippi, Louisiana, and Texas will share in all revenue from leases in this new area.”
The Gulf of Mexico Energy Security Act of 2006 mandates that the 181 South Area be offered for lease and that the four gulf producing states share in the revenues.
