Last central Gulf-only lease sale March 28; 2018 Gulfwide

  • AP

NEW ORLEANS (AP) — The federal government has scheduled its last oil lease sale to cover only the most active area in the Gulf of Mexico, with Gulf-wide sales to begin in 2018.

The Bureau of Ocean Energy Management says the next central Gulf lease sale will be March 22, offering 48 million acres off of Louisiana, Mississippi and Alabama. It’s held separate western and central Gulf sales since 1983.

Low oil prices have caused low interest recently. This year’s central Gulf sale brought the fewest bids since 1986. Forty-two companies made 195 bids — down from 380 bids in 2015 and more than 500 in previous years.

The agency got 33 bids from only three companies in an August sale of tracts off the Texas coast.


Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Content Sponsored By:
Alto Landscaping 728×90
May Marketing 728×90
Glennas Pest Control 728×90
Pel-State Leaderboard 728×90
RSHV – 728×90 Banner
Alto Landscaping 728×90
Citizen’s National Bank 728×90
RGM Marketing 728×90
Glennas Pest Control 728×90
LA Home Center 728×90
OneChiro 728×90
Diamond Realty 728×90
Bayou State Roofing 728×90
Greenstar Insulation 728×90
Swoop 728×90
May Marketing 728×90

Will Broyles

Will Broyles is the owner of

Related Articles

Back to top button