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Trump Administration to Offer 78 Million Acres in Gulf of Mexico Oil, Gas Lease Sale

The U.S. Interior Department proposed to offer all available unleased areas in the Gulf of Mexico for oil and gas leasing in the auction to be held in March 2019, according to a Sept. 25 press release. The auction marks the fourth offshore sale under the 2017-2022 leasing program. The last auction held in August also offered about 77 million acres and generated about $178 million in high bids. In January, the agency proposed to open more than 90 percent of the outer continental shelf acreage for oil and gas development under its 2019-2024 draft program, in a sharp reversal from current rules that put 94 percent of acreage off limits. The auctions are part of the Trump administration’s push to drive domestic oil and gas production.

September 25, 2018
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