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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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Oil and gas lease sale scheduled Nov. 17 for Gulf of Mexico

October 7, 2021 by PBOG

U.S. Bureau of Ocean Energy Management said Sept. 30 it will hold a lease sale Nov. 17 for oil and gas exploration in Gulf of Mexico.  It will include 15,135 blocks from 3 to 231 miles offshore in water depths from 9 to 11,115 feet.  Royalty rates will be 12.5 percent for leases in less than 200 meters of water and 18.75 percent for all other leases.  The Biden administration instituted a leasing pause on public lands shortly after he took office in January, but leasing agencies BOEM and Bureau of Land Management were told in June by a federal court to resume.

 

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