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Federal offshore oil lease sale set for March

4 years 7 months 2 days ago Friday, October 17 2014 Oct 17, 2014 October 17, 2014 12:45 PM October 17, 2014 in News
Source: Associated Press
By: APNewsNow

NEW ORLEANS - Oil and gas leases for 40 million acres off the coasts of Louisiana, Mississippi and Alabama will be offered by the federal government in a March sale at the Superdome in New Orleans.

The Bureau of Ocean Energy Management announced the lease sale on Friday, calling it part of the Obama administration's plan to "expand safe and responsible domestic energy production."

The bureau said the sale will include approximately 7,611 blocks, covering 40.5 million acres, located from three to 230 nautical miles offshore.

The water depths range from nine to more than 11,000 feet.

The bid deadline for interested companies is 10 a.m. March 17. The opening of bids is set for 9 a.m. March 18.

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