Kempthorne to Open Historic Oil and Gas Lease Sale March 19
On Wednesday, March 19, 2008 in New Orleans, Louisiana, Secretary of the Interior Dirk Kempthorne will officially open the Minerals Management Service's Lease Sales 206 and 224 for the Gulf of Mexico. Sale 224 is the first oil and natural gas sale to include the immediate revenue sharing provisions for Gulf States that were mandated by the Gulf of Mexico Energy Security Act of 2006.
Kempthorne's opening remarks will begin at 9 a.m. CDT and will be immediately followed by his reading of the first bid. Lease Sale 206 includes 28.5 million acres in the Central Gulf of Mexico; Sale 224 includes 547,000 acres in the Eastern Gulf of Mexico.
At the conclusion of the sales, the Secretary will announce the final bid totals and discuss the comparative results of the sales as well as the new revenue sharing program at a press conference, where he will be joined by Stephen Allred, Interior's Assistant Secretary for Land and Minerals Management, and Randall Luthi, Director of Interior's Minerals Management Service.