Tuesday, July 24, 2012

First Offshore Sale Under 2012-2017 Leasing Program Announced

Financial Market Forecast is Looking Bleak

The U.S. Bureau of Ocean Energy Management (BOEM) will offer over 20 million acres offshore Texas as part of the Western Gulf of Mexico Lease Sale 229, Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management Director Tommy P. Beaudreau announced Monday.

The sale, scheduled to take place in New Orleans on Wednesday, Nov. 28, will be the first offshore sale under the Obama administration's new Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017.

"We are moving forward expeditiously to create jobs by implementing the President's offshore oil and gas strategy for the next five years, a smart plan that focuses on the areas that contain the overwhelming majority of the energy resources," Salazar said in a statement Monday.

"With comprehensive safety standards in place, this sale will help us to continue to responsibly grow America's energy economy and reduce our dependence on foreign oil," Salazar said.

Read the entire Rigzone article.

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