Biden Administration Cancels Offshore Oil Lease Sale in Gulf Things To Know Before You Buy

Biden Administration Cancels Offshore Oil Lease Sale in Gulf Things To Know Before You Buy

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Feb 7, 2018 Press Release 0 Comments HOUSTON, Jan. 24, 2018/ PRNewswire/-- Parker Drilling Company (NYSE: PKD) announced today it intends to report its fourth quarter 2017 results after the marketplace closes on Wednesday, February 14, 2018. In combination with the release, the Business has ... Feb 7, 2018 Press Release 0 Comments HOUSTON, Jan.


Feb 7, 2018 News release 0 Remarks HOUSTON, Feb. 1, 2018/ PRNewswire/-- Parker Drilling Business (NYSE: PKD) revealed today that it received notification from the New York Stock Exchange that the Business regained compliance with the NYSE listing standard for share rate. On January 2, ...


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In the last chance for oil companies to bid on federal Gulf of Mexico waters under a Trump administration, the federal government on Wednesday leased more than a half-million acres to business for overseas oil drilling and production. The leasing occasion, livestreamed from New Orleans, comes as President-elect Joe Biden readies his transition Biden promised throughout his project to prohibit new oil and gas leasing on public lands and waters as part of his tidy energy strategy to lower making use of carbon-emitting fossil fuels, which contribute to environment change.


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Biden Pauses Offshore Leasing - NRDC

"They wanted to jump on it before the window potentially closes and there are more regulatory difficulties," said Sami Yahya, a senior energy analyst for S&P Global Platts Analytics. The change in presidential administrations "is one of the top things operators have in mind."  Look At This Piece  of Ocean Energy Management said about 518,000 acres were rented throughout the auction for almost $121 million in high bids.


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A drilling rig on a lease owned by Oasis Petroleum operates in the Permian  Basin oil and natural gas production area near Wink, Texas U.SAugust 22,  2018Picture taken August 22,

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"These are plainly unpredictable times, with COVID-19 and the low oil cost," Celata stated. "I'm happy, given whatever that has occurred, at the size of the sale. The Gulf has a long future [for oil production]" Expectations for the sale were dim due to the fact that of reduced worldwide oil demand and low oil prices brought on by the COVID-19 pandemic.