Monthly eNewsletter from the IADC

IADC Comments on BOEM’s Reinstatement of Lease Sale 257

IADC issued a media release in response to BOEM’s announcement of the reinstatement of Gulf of Mexico Lease Sale 257.

In the media release, IADC President Jason McFarland issued the following statement:

“BOEM’s reinstatement of Lease Sale 257 Act is a positive step forward for energy production in the Gulf of Mexico, which has lacked new oil and gas leases for almost two years. With the region being responsible for over 15% of all U.S. oil production, the importance of holding robust and timely offshore lease sales cannot be understated. As nations around the world experience rising energy costs and heightened geopolitical tensions, development of all forms of energy in the Gulf will be critical to ensuring lasting energy security for the U.S. and its global partners.“

The Timeline of IADC’s Actions Regarding U.S. Federal Natural Gas & Oil Leasing provides an overview of recent events regarding U.S. lease sales, including Lease Sale 257.