Bureau of Ocean Energy Management

The Bureau of Ocean Energy Management says the increase is needed to keep pace with inflation.

Controversial Sale 259 was conducted as mandated by the Inflation Reduction Act of 2022.

The proposed sale notice consists of more than 300,000 acres in three designated areas offshore Louisiana and Texas.

The increase comes as federal agencies change fines to reflect inflation.

The Department of the Interior announced that the Bureau of Ocean Energy Management will publish a proposed rule to update regulations for clean energy development on the US Outer Continental Shelf.

Denbury acquires carbon-storage land in the South, Baker Hughes forms a new wells consortium, and Chevron and BP expand their investments. Hydrogen takes center stage across the globe, while the international energy transition makes strides toward its goals.

Rights to five lease tracts offshore California have been awarded to five separate operators.

US GOM players have come out of the pandemic slowdown with new perspectives on spending and cycle times and are targeting finds that can utilize existing hardware instead of those that require new iron.

The sale had 307 valid high bids worth more than $190 million.

Unique partnerships forward both conventional renewables and new technologies to close the gap for a carbon-free future across the globe.