Gulf Oil, Gas Leases Up for Sale; Environmentalists Protest

3/23/16 New York Times

532687354_fdef042d72_zNEW ORLEANS — The federal government is selling off oil and gas leases in the Gulf of Mexico during a sale Wednesday, but environmentalists opposed to fossil fuels development on public lands plan to protest.

The Bureau of Ocean Energy Management is offering about 45 million acres for exploration and development. Companies submit bids in advance to the agency, which announces the results at the sale. It’s held at the Superdome.

Wednesday’s auction will be for lots in the central and eastern sections of the Gulf. The central region is generally the most active part of the Gulf. The Bureau of Ocean Energy Management said Tuesday that it had received 148 bids on 128 blocks in the central section but had received no bids for the eastern region.

Interest has been limited in recent sales as the industry struggles with low energy prices.

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