11:59 GMT +311 December 2019
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    US Nets $23Mln From Gulf of Mexico Oil, Gas Lease Sale

    © East News / Julie Dermansky
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    The US government has sold a set of oil and gas drilling leases for the western region of the Gulf of Mexico for more than $22 million, the Bureau of Ocean Energy Management (BOEM) said in a press release.

    WASHINGTON (Sputnik) — The leases were auctioned between five offshore energy companies in bids for 33 different parts of the gulf, covering 190,080 acres, the release noted.

    "BOEM held an oil and gas lease sale for the Western Gulf of Mexico that drew $22,675,212 in high bids for tracts on the… Outer Continental Shelf offshore Texas," the release read on Wednesday.

    BOEM Director Abigail Hopper said the Gulf of Mexico remains an important part of the US economic energy portfolio in creating jobs and reducing national dependence on foreign oil.

    "While this sale reflects today’s market conditions and industry’s current development strategy, it underscores a steady, continued interest in developing deep water federal offshore oil and gas resources," Hopper stated.

    The leases auction is the eighth in a series President Barack Obama’s Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017.

    So far, the program has sold more than 60 million acres for development in 1,038 leases, or lots, totaling $2.9 billion.

    Tags:
    Oil, gas, US Bureau of Ocean Energy Management (BOEM), Gulf of Mexico
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