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The latest lease sale for acreage in the Gulf of Mexico under the Biden administration has gathered nearly $382.2 million in high bids.
The Bureau of Ocean Energy Management (BOEM) sold leasing rights for a major offshore oil and gas drilling area in the Gulf of Mexico on Wednesday.
Originally scheduled for September 27, 2023, Lease Sale 261 faced multiple obstacles, including an emergency stay order and subsequent appeals from environmental groups and industry stakeholders, prompting BOEM to delay the sale.
'Until the court rules, BOEM cannot be certain of which areas or stipulations may be included in the sale notice'.
BOEM has delayed the next offshore oil and gas lease sale for acreage in the Gulf of Mexico, pending further direction from the court.