U.S. Reinstates Results of Largest Oil Lease Sale Following Inflation Reduction Act

The Bureau of Ocean Energy Management on Sep. 14 announced it has accepted 307 valid high bids from lease sale 257 in the Gulf of Mexico totalling about $190 million. The sale, held in November 2021, offered about 80 million acres, but only 1.7 million were leased. A January 2022 decision by the District Court…...