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US to Hold Delayed Oil and Gas Auction Nov. 8

OIL

The US government confirmed Oct. 5 that it would auction oil and gas leases in the USGC on Nov. 8 amid a court order demanding an expanded sale, according to Reuters.

  • The U.S. Bureau of Ocean Energy Management said the sale would offer about 72.7m acres on the Outer Continental Shelf, including 6m acres previously withdrawn from auction to safeguard the endangered Rice’s whale habitat.
  • This is likely to be the last Federal oil and gas auction until 2025, Reuters said.
  • The US appeals court gave the Biden administration a deadline of Nov. 8 to hold the sale, which was first meant to take place Sep. 27, Reuters added.

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