Wednesday,
August 15
August 15
DOI Offshore Oil, Gas Leasing Sale
The U.S. Interior Department will hold a record-sized auction for about 78 million acres of oil and gas leases in the Gulf of Mexico. The last sale held in March trailed expectations, generating only $125 million in proceeds after drillers bid on just 1 percent of the available acreage off the coast of Texas, Louisiana, Mississippi, Alabama and Florida. The auctions follow the Trump administration’s move in January to open offshore tracts to energy development as the administration seeks to boost domestic supplies. (BOEM-2018-0035)