Natural gas and oil lease sales in the Gulf of Mexico (GOM) should continue, but there’s room for wind development, as well as carbon capture and sequestration (CCS), according to exploration and production (E&P) companies. Both supporters and opponents of federal leasing in the offshore made their comments on the national leasing program, published late…
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Raising Federal Oil, Gas Leasing Fees to ‘Hamper’ E&P Activity, Says Industry
A proposed rule by the Department of Interior’s Bureau of Land Management (BLM) to increase bonding requirements, royalty rates and minimum bids for natural gas and oil producers was met with criticism from the industry. The draft rule would increase economic returns for the country while ensuring oil and natural gas companies are environmentally responsible…
July 24, 2023
API Challenging Court’s Decision to Nullify GOM Oil, Natural Gas Auction
The American Petroleum Institute (API) is appealing a federal court ruling that invalidated the results of last November’s Gulf of Mexico (GOM) oil and gas lease sale, calling the decision “misguided.” U.S. District Judge Rudolph Contreras of the District of Columbia (DC) invalidated Lease Sale 257, which was the only federal auction held in 2021…
February 9, 2022
Oil, Natural Gas Industry Facing Higher Costs, Scrutiny in Federal Auctions
The U.S. oil and natural gas industry need not fear a federal drilling ban — for now — but royalty rates may be hiked for the first time in a century and leasing terms could be tightened based on an analysis by the Department of Interior. After taking office in January, President Biden issued Executive…
November 29, 2021
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