(Source: Shutterstock.com
Lease Sale 261 is back on again, at least for now.
After legal challenges derailed the offshore oil and gas lease auction in the Gulf of Mexico (GoM) earlier this month, the Bureau of Ocean Energy Management (BOEM) has rescheduled the sale for the third time on Dec. 20.
BOEM said the sale was rescheduled following a Nov. 14 order by the U.S. Court of Appeals for the Firth Circuit. The same court halted the sale, which was originally scheduled for Sept. 27 and then Nov. 8. BOEM postponed the sales each time in response to judicial orders, most recently on Nov. 2.
BOEM said the court directed the lease blocks that were previously excluded due to concerns regarding potential impacts to the Rice’s whale population in the GoM. BOEM will also remove portions of a related stipulation meant to address those potential impacts from the lease terms for any leases that may result from Lease Sale 261.
A final notice of sale will be published in the Federal Register on Nov. 20 and will be available for public inspection on Nov. 17.
BOEM will livestream the opening of bids at 9 a.m. CT on Dec. 20.
Recommended Reading
Exclusive: Why Family Offices Favor ‘Lower-Risk’ Oil, Gas Investments
2024-11-22 - Evan Smith, Stephens’ senior vice president for investment banking, describes growth in the company’s network of family offices, specifically those investing in the energy sector, in this Hart Energy Exclusive interview.
Energy Sector Sees Dramatic Increase in Private Equity Funding
2024-11-21 - In a 10-day period, private equity firms announced almost $20 billion in energy funding. Is an end in sight for the fossil fuel capital drought?
Expand Energy Announces $500MM Tender Offer for 2026 Notes
2024-11-20 - Expand also issued a conditional notice of redemption for all of its outstanding 8.375% Senior Notes due 2028.
Vistra to Offer Senior Notes for Equity Interest Repayment
2024-11-19 - Vistra Corp. said the proceeds from the offer will be used toward an early payout for the installment purchase of Avenue Capital Management II’s interest in Vistra Vision.
US Energy Secretary Nominee Chris Wright Champions Energy at DUG GAS
2024-11-19 - President-elect Donald Trump's energy secretary nominee Chris Wright championed energy's role in bettering human lives earlier this year on stage at Hart Energy’s DUG GAS Conference and Expo.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.