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48 million acres in Gulf of Mexico for oil and gas lease

Staff Writer | December 23, 2016
Bureau of Ocean Energy Management (BOEM) Director Abigail Ross Hopper said the bureau will offer more than 48 million acres offshore Louisiana, Mississippi, and Alabama for oil and gas exploration and development.
Gulf of Mexico oil
Oil exploration   Sale 247 includes approximately 9,118 blocks
The lease sale that will include all available unleased areas in the Central Planning Area (CPA).

“As one of the most productive basins in the world, the Gulf of Mexico remains an important component of our domestic energy strategy to create jobs, foster economic opportunities, and reduce America’s dependence on foreign oil,” Hopper said.

“The exploration and development of the Gulf of Mexico’s energy resources will continue to help power our nation and drive our economy.”

BOEM will livestream Central Gulf of Mexico Lease Sale 247 on March 22, 2017. Livestreaming the sale enables BOEM to deliver pertinent bid information immediately to a much broader national and international audience.

The twelfth and final Gulf offshore sale under the Administration’s Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017 (Five Year Program), this sale builds on the eleven sales previously held in the current Five Year Program, which netted more than $ 3 billion for American taxpayers, in support of the Administration’s goal of continuing to increase domestic oil and gas production.

Sale 247 includes approximately 9,118 blocks, located from three to about 230 miles offshore, in water depths ranging from 9 to more than 11,115 feet (3 to 3,400 meters).