MMS SCHEDULES AUGUST 1992 GULF LEASE SALE

The U.S. Minerals Management Service has proposed terms for an August 1992 western Gulf of Mexico lease sale. Sale 141 is to be the first under the new 5 year (1992-97) offshore leasing schedule. Under the old schedule, MMS plans to conduct a western Gulf Sale, No. 135, this August in New Orleans. The 1992 sale is to offer all unleased blocks in the western gulf planning area. That covers 4,270 tracts totaling 23.5 million acres off Texas and Louisiana. The tracts lie 9-222 miles offshore in

June 10, 1991

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The U.S. Minerals Management Service has proposed terms for an August 1992 western Gulf of Mexico lease sale.

Sale 141 is to be the first under the new 5 year (1992-97) offshore leasing schedule. Under the old schedule, MMS plans to conduct a western Gulf Sale, No. 135, this August in New Orleans.

The 1992 sale is to offer all unleased blocks in the western gulf planning area. That covers 4,270 tracts totaling 23.5 million acres off Texas and Louisiana. The tracts lie 9-222 miles offshore in 8-3,000 m of water.

MMS plans to offer 1,174 blocks in less than 400 m of water with 161/s% royalties and 5 year terms, 466 blocks in 400-900 m of water with 12.5% royalties for 8 year terms, and 2,630 blocks in 900-3,000 m with 12.5% royalties for 10 year terms.

Leases will carry the usual stipulations. Tracts in the Flower Garden Banks and naval training areas off Corpus Christi, Tex., will not be offered.

MMS published a draft environmental impact statement for the sale in the Apr. 24 Federal Register.

The 1990 Coastal Zone Management Act amendments require the sale to be consistent with the states' coastal zone management programs.

The governors of both states also will be asked to comment on the size, timing, and location of the sale. Final decisions on the sale will be made in spring 1992.