The US Bureau of Ocean Energy Management’s (BOEM) first Gulf of Mexico lease sale in 2015 will feature almost 44 million acres off Louisiana, Mississippi, and Alabama, encompassing all available unleased acreage in the Central Gulf of Mexico planning area.
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Map of the Central and Western planning areas in the Gulf of Mexico from BOEM.
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Proposed Central Gulf of Mexico lease sale 235 is scheduled to be held in New Orleans, home to the BOEM’s Gulf of Mexico’s regional office, in March 2015. It will be seventh sale under the Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017.
The BOEM says that the program has so far yielded more than 60 million acres and netted US$2.4 billion for taxpayers.
Sale 235 will include approximately 7477 blocks, covering 43.5 million acres, located from three to 230nm offshore, in water depths ranging from nine to more than 11,000ft.
BOEM estimates the proposed lease sale could result in the production of 460 to 894MMbo and 1.9 to 3.9Tcf of natural gas.
The bureau also plans to offer blocks located or partially located within the three statute mile US - Mexico Boundary Area subject to the terms of the US - Mexico Transboundary Hydrocarbon Agreement. Passed by the US Congress in December 2013, the agreement established a framework under which US oil and gas companies could jointly develop transboundary reservoirs with Mexican national Pemex.
The agreement also made available resources in the Western Gap that were off limits to both countries under a previous treaty that imposed a moratorium along the boundary. In May, ExxonMobil became the first company awarded oil and gas leases in the Gulf of Mexico under the agreement.
Most recently, the BOEM’s Western Planning Area lease sale 238 was held 20 August 2014 in New Orleans. The sale offered 21.6 million acres off Texas and attracted more than US$109.9 million in high bids for 81 tracts, covering 433,823 acres on the US Outer Continental Shelf. At the close of bidding, 14 companies had submitted 93 bids. BP was the highest bidder based on total number of high bids, submitting 27 out of 32 bids submitted, at $22,837,729.
Under the current five year plan, the lease sales are set to extend into 2017, culminating with Alaskan lease sale 242, which will feature acreage in the Beaufort Sea. Two subsistence whaling areas near Barrow and Kaktovik will be excluded from leasing. Two Gulf of Mexico lease sales will be held in 2015; followed by three in 2016; and concluding with one in 2017.
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