GoM gas lease sale Aug. 16

The Trump Administration announced July 13 that its first offshore oil and gas lease sale for some 76 million acres in the Gulf of Mexico will be Aug. 16. The announcement also noted that there would be a reduction in royalty rates for shallow-water leases to encourage drilling at a time of low oil prices. Interior Secretary Ryan Zinke said the Aug. 16 sale would offer leases offshore Alabama, Florida, Louisiana, Mississippi, and Texas for exploration and development. The sale will be the first under the administration's 2017-22 National Outer Continental Shelf Oil and Gas Leasing Program. (Source: Marine Link 07/14/17)