A highly anticipated review by the U.S. Interior Department of the federal oil and gas leasing program is undergoing final internal review and should be released “very soon,” Interior Secretary Deb Haaland told a Senate hearing on July 27.
President Joe Biden announced the review shortly after taking office in what was widely viewed as a first step to fulfilling his campaign promise of banning new federal drilling leases and rapidly slashing greenhouse gas emissions over the next decade to fight climate change.
Haaland had said previously that the review would be completed by “early summer.”
The Biden administration earlier this year stopped holding government drilling auctions, pending the review, but a federal judge last month ruled that his leasing freeze was unlawful.
Wyoming Senator John Barrasso, a Republican, asked Haaland at the Senate energy committee hearing whether the Interior Department would reschedule two lease sales that would have taken place in the first two quarters of the year.
She did not comment on what the department plans to do with those lease sales because of ongoing litigation.
Recommended Reading
Utica Oil’s Infinity IPO Values its Play at $48,000 per Boe/d
2025-01-30 - Private-equity-backed Infinity Natural Resources’ IPO pricing on Jan. 30 gives a first look into market valuation for Ohio’s new tight-oil Utica play. Public trading is to begin the morning of Jan. 31.
CPP Wants to Invest Another $12.5B into Oil, Gas
2025-03-26 - The Canada Pension Plan’s CPP Investments is looking for more oil and gas stories—in addition to renewable and other energies.
Utica’s Infinity Natural Resources Seeks $1.2B Valuation with IPO
2025-01-21 - Appalachian Basin oil and gas producer Infinity Natural Resources plans to sell 13.25 million shares at a public purchase price between $18 and $21 per share—the latest in a flurry of energy-focused IPOs.
Murphy Shares Drop on 4Q Miss, but ’25 Plans Show Promise
2025-02-02 - Murphy Oil’s fourth-quarter 2024 output missed analysts’ expectations, but analysts see upside with a robust Eagle Ford Shale drilling program and the international E&P’s discovery offshore Vietnam.
Utica Oil Player Ascent Resources ‘Considering’ an IPO
2025-03-07 - The 12-year-old privately held E&P Ascent Resources produced 2.2 Bcfe/d in the fourth quarter, including 14% liquids from the liquids-rich eastern Ohio Utica.
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.