Offshore staff
WASHINGTON, D.C. – The Bureau of Ocean Energy Management (BOEM) will offer more than 78 million acres (315,655 sq km) in a region-wide lease sale scheduled for March 18, 2020.
Lease Sale 254 will include all available unleased areas in federal waters of the Gulf of Mexico.
Scheduled to be live streamed from New Orleans, this will be the sixth offshore sale under the 2017-2022 Outer Continental Shelf Oil and Gas Leasing Program.
Excluded from the lease sale are:
• Blocks subject to the congressional moratorium established by the Gulf of Mexico Energy Security Act of 2006
• Blocks adjacent to or beyond the US Exclusive Economic Zone in the area known as the northern portion of the Eastern Gap
• Whole blocks and partial blocks within the current boundaries of the Flower Garden Banks National Marine Sanctuary.
According to BOEM, terms include a 12.5% royalty rate for leases in less than 200 m (656 ft) of water depth, in recognition of current hydrocarbon price conditions and the marginal nature of remaining Gulf of Mexico shallow water resources and a royalty rate of 18.75% for all other leases issued pursuant to the sale.
02/11/2020
