Lease

Permian’s New Mexico Revenues Booming, But Water Supply Concerns Persist

Permian’s New Mexico Revenues Booming, But Water Supply Concerns Persist

Reflecting the continuing surge in Permian Basin drilling, the New Mexico State Land Office (SLO) reported that it is nearing a record in oil and natural gas lease sale revenues, following the completion of a March auction that netted nearly $1.5 million.

April 3, 2018

Obama-era Onshore Oil, Gas Leasing Reforms Eliminated by BLM

The Trump administration eliminated a series of Obama-era reforms to the Bureau of Land Management’s onshore oil and natural gas leasing program, including the use of master leasing plans (MLP), on the grounds that the reforms were duplicative and burdensome to the oil and gas industry.

February 2, 2018
BLM Oil, Gas Auctions in 2017 Gross $360M, Led by Permian-Heavy New Mexico

BLM Oil, Gas Auctions in 2017 Gross $360M, Led by Permian-Heavy New Mexico

Preliminary proceeds from Bureau of Land Management (BLM) oil and natural gas lease sales conducted last year totaled $360 million, an 86% increase over 2016’s total of $192.5 million, federal officials said.

February 2, 2018
BLM Utah Auction Generates Little Interest

BLM Utah Auction Generates Little Interest

The U.S. Bureau of Land Management (BLM) found market resistance in its quarterly lease auction in Utah on Tuesday, selling only three of the nine parcels up for bid.

September 15, 2017
Lower Tertiary Draws Most Prospectors in GOM-Wide Lease Sale

Lower Tertiary Draws Most Prospectors in GOM-Wide Lease Sale

In the first lease sale covering the entire Gulf of Mexico (GOM) since 1983, the Lower Tertiary Trend, an intriguing deepwater play that has yielded big-time discoveries, captured most of the attention.

August 17, 2017

BOEM Suggests Lower Shallow Water Royalties, Eyes Price-Based Rates

The Bureau of Ocean Energy Management (BOEM) is proposing to reduce the royalty rate for Gulf of Mexico (GOM) oil and natural gas leases sold during the August federal sale to 12.5% from 18.75%.

July 10, 2017

Interior Secretary Signs Order to Streamline Permitting, Address Backlog

Pledging to make the Interior Department “a better neighbor in the new Trump administration,” Secretary Ryan Zinke issued a secretarial order (SO) on Thursday that calls for streamlining the permitting process for drilling on federal lands.

July 7, 2017

BOEM Awards 153 Tracts, Rejects 10 Bids from GOM Lease Sale in March

The Interior Department’s Bureau of Ocean Energy Management (BOEM) this week awarded 153 tracts to companies that bid in March to explore for oil and natural gas in the Gulf of Mexico (GOM), but 10 high bids were rejected.

June 28, 2017

Hilcorp Bids More Than $3M For Federal Leases in Alaska’s Cook Inlet

At the first auction of federal offshore leases in Alaska’s Cook Inlet in nearly a decade, Hilcorp Alaska LLC submitted bids of more than $3 million on Wednesday, according to the Interior Department’s Bureau of Ocean Energy Management (BOEM).

June 22, 2017

BLM Northwest Colorado Lease Sale Nets $1.24MM; 15 Parcels Unsold

In some of the most remote areas of the state for oil/natural gas development, the U.S. Bureau of Land Management (BLM) operations in northwest Colorado on Thursday sold oil/gas leases covering 63,268 acres, garnering $1.24 million in revenues.

June 9, 2017