BOEM proposes Lease Sale 238 in western Gulf of Mexico

The US Bureau of Ocean Energy Management (BOEM) will offer 3,992 blocks over 21.4 million acres offshore Texas for oil and gas exploration and development in August’s western Gulf of Mexico Lease Sale 238.

The US Bureau of Ocean Energy Management (BOEM) will offer 3,992 blocks over 21.4 million acres offshore Texas for oil and gas exploration and development in August’s western Gulf of Mexico Lease Sale 238.

The blocks, which lie 9-25 miles offshore in 5-3,346 m of water, could result in the production of 116-200 million bbl of oil and 538-938 bcf of natural gas, BOEM projected.

BOEM specified it plans to offer blocks located, or partially located, within the 3-statute mile US-Mexico Boundary Area subject to the terms of the US-Mexico Transboundary Hydrocarbon Agreement.

The sale will be the sixth offshore sale under the Obama administration’s Outer Continental Shelf Oil and Gas Leasing Program for 2012-17. The first five sales offered more than 60 million acres and netted nearly $2.3 billion.

Western gulf Lease Sale 233, held in August 2013, received 61 bids from 12 companies totaling $102,351,712 in apparent high bids (OGJ Online, Aug. 28, 2013).

Last month’s central gulf Lease Sale 231 garnered 380 bids from 50 companies resulting in a total of $850 million in apparent high bids (OGJ Online, Mar. 19, 2014).

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