US to have offshore oil, gas sale in August
More than 21 million acres offshore Texas will go on the auction block to energy explorers in an August sale in New Orleans, the US government announced. The US Interior Department and its Bureau of Ocean Energy Management (BOEM) said the auction would open unleazed areas in the western Gulf of Mexico. US Interior Secretary Sally Jewell said the Gulf of Mexico is the “cornerstone” of the US energy portfolio. More than 35 million acres in the Gulf of Mexico went on the auction block in March. The government said that acreage could generate as much as 890 million barrels of oil and as much as 3.9 trillion cubic feet of natural gas. The August lease sale covers 21.1 million acres off the coast of Texas. BOEM estimates that acreage could give up as much as 200 million barrels of oil and 938 billion cubic feet of natural gas.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.