The Minerals Management Service (MMS) will hold the next federal offshore oil and gas lease sale for the Gulf of Mexico on August 20, 2008 at the Royal Sonesta Hotel in downtown New Orleans. The Final Notice of Lease Sale (FNOS) for Western Gulf of Mexico Lease Sale 207 was published in today’s Federal Register.
Sale 207 encompasses about 3,400 unleased blocks covering approximately 18 million acres in the Western Gulf of Mexico Planning Area offshore Texas. The blocks are located from 9 to about 250 miles offshore in water depths of 16 to more than 10,978 feet (4 to 3,346 meters). MMS estimates the proposed lease sale could result in the production of 242 to 423 million barrels of oil and 1.64 to 2.64 trillion cubic feet of natural gas.
Terms and conditions for Sale 207 are fully outlined in the Final Notice of Sale information package. The FNOS and FNOS information packages are posted on the MMS Website.