Leasing

The Interior Department has reinstated the highest valid bids from a Gulf of Mexico (GOM) oil and gas auction held in November, opening the way for expanding production from the offshore. Interior’s Bureau of Ocean Energy Management (BOEM) on Wednesday accepted 307 high bids from Lease Sale 257, totaling close to $190 million.  The only…

The Biden administration aims to substantially curb new oil and natural gas drilling on public lands as it attempts to combat climate change and emphasize renewable fuels. The White House said it would resume selling leases to drill for oil and gas on federal lands, though the number of acres available declined dramatically and it…

Hope is fading that the Department of the Interior (DOI) will hold offshore oil and gas lease sales anytime soon, industry lobbyists said Tuesday. “The Biden administration’s lack of progress on offshore leasing is a clear example of the large gap between rhetoric and reality,” the American Petroleum Institute’s (API) Frank Macchiarola, senior vice president…

A long awaited petrochemical project is set to begin operations in the Appalachian Basin in 2022, and a second major investment in the region could get the green light this year.

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…

Wyoming’s two main oil and gas trade groups are seeking to expedite the resumption of oil and gas leases on federal property by the Department of the Interior (DOI). In a merits brief filed Aug. 30 in Wyoming District Court, the Western Energy Alliance and the Petroleum Association of Wyoming (PAW) allege that DOI is…

The American Petroleum Institute (API) and the U.S. Chamber of Commerce joined Republican leaders in calling on the Biden administration to lift its temporary pause on federal oil and natural gas leasing after a Louisiana district court ordered the moratorium be lifted. Fourteen states in March challenged President Biden’s executive order (EO), which in January,…

Leading U.S. oil and gas trade group American Petroleum Institute (API) on Thursday urged the Biden administration to fully reinstate leasing on federal property, warning of environmental and economic impacts under a long-term ban. Biden has paused via executive order (EO) the awarding of new leases amid a comprehensive review of the Interior Department (DOI)…

New Mexico’s Permian Basin has feathered the state’s coffers and built the nation’s oil reserves, but if the Biden administration implements a ban of federal permitting, the region’s economy could take a sharp hit, according to the Federal Reserve Bank of Dallas. The Biden administration in late January directed the Department of the Interior to…