US Central Gulf lease sale set for March

Lease sale: Central Gulf round to be held in March

AFP/Scanpix

related stories

Kathrine Schmidt

 07 February 2013 18:11 GMT

US regulators said Thursday a lease sale for 38 million offshore acres in the central Gulf of Mexico will take place on 20 March.

Lease Sale 227 will offer up acreage off Louisiana, Mississippi and Alabama according to the US Interior Department and Bureau of Ocean Energy Management.

It is generally the larger of two rounds typically held each year, the other offering western Gulf acreage off Texas.

“The Obama Administration is fully committed to developing our domestic energy resources to create jobs, foster economic opportunities, and reduce America’s dependence on foreign oil,” Interior Secretary Ken Salazar said in a statement.

Interior believes the remaining unleased areas could hold as much as 1 billion barrels of oil…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index