Offshore staff
THE WOODLANDS, Texas – Arena Energy LLC was recently awarded 11 leases in the US Gulf of Mexico (GoM) by the Bureau of Ocean Energy Management (BOEM) in Lease Sale 257.
BOEM conducted Lease Sale 257 in November 2021, but it was subsequently vacated by a federal judge in January 2022. The Inflation Reduction Act of 2022, signed into law by President Biden in August, required reinstatement of the sale and the leases were finally awarded in October 2022.
Arena was the successful bidder on eleven leases in water depths ranging from 30 to 283 ft in the Eugene Island, South Pelto, and West Delta areas in the GoM off the coast of Louisiana. Arena says that it paid $3.8 million in lease bonuses to the federal government for the leases.
Arena Co-Founder and CEO Mike Minarovic said: “These leases and future lease sales are critical to our continued investments in the Gulf of Mexico Shelf, and we applaud Senator Joe Manchin’s leadership in ensuring that reinstatement of Lease Sale 257 was a key component of the Inflation Reduction Act. The Inflation Reduction Act recognizes that sustained production from the Gulf of Mexico is vital for energy security and reducing global emissions, as the oil and natural gas produced in the Gulf is among the least carbon-intensive production in the world.”
12.06.2022
