GoM federal lease sale in November

The federal Bureau of Ocean Energy Management (BOEM) announced July 17 that it proposes to offer in November about 78.8M acres for a regionwide lease sale from the Gulf of Mexico. Lease Sale 256, scheduled to be livestreamed from New Orleans, will be the seventh offshore sale under the 2017-22 Outer Continental Shelf Oil and Gas Leasing Program. Lease Sale 256 will include about 14,755 unleased blocks available in federal waters. The Gulf of Mexico Outer Continental Shelf (OCS), covering about 160M acres, is estimated to contain about 48B bbls. of undiscovered technically recoverable oil and 141T cubic feet of undiscovered technically recoverable gas. Revenues from the lease sales are directed to the U.S. Treasury, Gulf Coast states (Alabama, Louisiana, Mississippi, and Texas), the Land and Water Conservation Fund, and Historic Preservation Fund. (Source: Work Boat 07/17/20) https://www.workboat.com/news/offshore/gulf-of-mexico-lease-sale-set-for-november/