LMOGA Offers Insights on Central Gulf Lease Sale

Chris John, President of Louisiana Mid-Continent Oil and Gas Association: “The strong demand for offshore leases offered today, particularly in the deepwater, should remind all Americans, including our federal leaders in Washington, of the Gulf of Mexico’s vast potential to serve our country’s energy needs now and into the future. Louisiana businesses and residents will continue to work in support of this valuable energy development in the Gulf and proudly do our part to fuel this nation.”

Lori LeBlanc, Director of LMOGA Offshore Committee:  “Energy companies obviously recognize the tremendous opportunities for oil and gas production in the Gulf, as seen in today’s lease sale results, which is great news for Louisianans and Americans everywhere.  Current and future production in the Gulf secures our nation’s energy supply and contributes billions to the economy and federal treasury, which benefits us all. LMOGA’s new Offshore Committee is committed to promoting this great energy and economic resource, and keeping our men and women working in America’s Gulf.”

The U.S. Department of Interior offered more than 40 million acres for oil and gas exploration and development offshore Louisiana, Mississippi, and Alabama, receiving 380 bids on 326 blocks from 42 companies. The sale garnered more than $850 million in high bid revenues.