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The Biden administration will open up Wednesday around 73 million acres in the Gulf of Mexico for auction to the oil and gas industry, the second massive lease sale this year and its last one ...
Royalty rates will rise to 16.67% from 12.5%, and the minimum amount companies can bid at oil and gas auctions will increase to $10 an acre from $2. The rental rate for a 10-year lease will double ...
Seven governments this year will combine to hold at least 15 oil and gas auctions, offering a record 1,100 blocks of onshore or offshore acreage, according to interviews with officials and a tally ...
Oil and gas rights in the offshore US are divided between the state and federal governments (see Offshore oil and gas in the United States). Rights to explore on US federal offshore areas are obtained through competitive sealed bids. Individual tracts are generally 9 square miles (23 km 2). Current leases being offered in the Gulf of Mexico ...
The Inflation Reduction Act requires that for federal lands, oil and gas auctions be carried out before wind and solar lease consideration, even as the Act brought about royalty rate increases. [119] Permian Basin drilling activity, some of it on federal lands, also brought about record high oil production even after the Act's signing in 2022. [70]
Total revenue of oil and gas companies is listed in billions of U.S. dollars. Total revenue is usually self-reported by the company, and often reported by neutral, unbiased, reliable publications. Reported data may be subsequently revised or restated due to a wide range of issues such as exchange rates, contract settlements, or mid-year ...
President Joe Biden's administration on Friday proposed up to three oil and gas lease sales in the Gulf of Mexico, but none in Alaska, as it tries to navigate between energy companies seeking ...
It would have been the first government oil and gas auction since U.S. crude oil futures briefly plunged below zero for the first time in history a month ago due to fallout from the coronavirus ...
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