lease sale
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The acreage comprises 10 leases covering approximately 25,430 contiguous acres. -
Ministry takes to Twitter to reveal new oil concession round coming soon.
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Controversial Sale 259 was conducted as mandated by the Inflation Reduction Act of 2022.
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Rights to five lease tracts offshore California have been awarded to five separate operators.
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By 2030, deepwater production is expected to rise 60%, but after that, reduced leasing and exploration could limit this small slice of the sector.
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The sale had 307 valid high bids worth more than $190 million.
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The three US lease auctions were the last planned under the current 5-year federal leasing plan.
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The US BOEM will hold its second offshore wind energy auction in May and promises more will follow.
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The industry group called the decision by the court “misguided” and said it will result in significant uncertainty for Gulf of Mexico producers
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A federal judge tossed out the results of Sale 257, held last November, because of what it said was the government’s underestimation of the potential effect on the environment.
