GoM Lease Sale 213 scheduled for March 2010

The Minerals Management Service has proposed that Oil and Gas Lease Sale 213 for the Central Gulf of Mexico Planning Area be held on March 17, 2010.

Offshore staff

WASHINGTON, DC -- The Minerals Management Service has proposed that Oil and Gas Lease Sale 213 for the Central Gulf of Mexico Planning Area be held on March 17, 2010. The proposed sale encompasses approximately 6,800 unleased blocks covering more than 35.9 million acres offshore Louisiana, Mississippi, and Alabama. The proposed sale could result in production of up to 1.3 Bbbl of oil and 5.4 tcf of natural gas, MMS says. The acreage is 3 to 230 mi (5 to 370 km) offshore in water depths of about 10 ft (3 m) to more than 11,200 ft (3,400 m).

The notice of sale includes a proposed revision of the lease terms for blocks in water depths of 1,312 ft to 5,249 ft (400 m to 1,600 m). Blocks in 1,312 ft to 2,625 ft (400 m to 800 m) change from an eight-year lease term to a five-year initial lease term, where commencement of an exploratory well would extend the lease term to eight years. Blocks in 2,625 ft (800 m) to less than 1,312 ft (1,600 m) change from a 10-year initial lease term to a seven-year initial lease term, where commencement of an exploratory well would extend the lease term to 10 years.

The proposed sale area includes an area known as 181 South in the southeastern part of the Central Planning Area, which contains around 4.2 million acres. The acreage in the 181 South area was offered for lease for the first time since 1988 in last year’s Central Gulf Lease Sale 208, as mandated by the Gulf of Mexico Energy Security Act of 2006.

Terms and conditions for Central Sale 213 are detailed in the Proposed Notice of Sale information package on the Minerals Management Website at http://www.gomr.mms.gov/homepg/lsesale/213/cgom213.html. Copies can be requested from the MMS Gulf of Mexico Region’s Public Information Unit, 1201 Elmwood Park Boulevard, New Orleans, LA 70123. Phone at (504) 736-2519, toll free 1-800-200-GULF.

11/13/2009

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