IADC Expresses Deep Concerns Regarding New Federal Offshore Leasing Program

For Immediate Release

Houston (04 October 2023) – The International Association of Drilling Contractors (IADC) expresses profound disappointment in response to the U.S. Department of the Interior’s (DOI) release of the 2024-2029 National Outer Continental Shelf Oil and Gas Leasing Proposed Final Program. The association notes with particular concern the highly restrictive strategy outlined by the DOI for offshore oil and gas leasing activities over the next five years.

The proposed final program, characterized by a significant reduction in lease sales from forty-seven to three, underscores a disconcerting lack of commitment to U.S. energy production and an impractical disregard for the global surge in energy demand. This long overdue program, released more than fifteen months after the previous plan’s end, further exacerbates industry uncertainty and will ultimately put undue pressure on the American people by affecting local job economies and increasing gas prices across the country.

In response to these developments, IADC President Jason McFarland stated, “The severe restrictions and limitations this new program places upon the U.S. oil and gas industry are negligent and extreme. Energy security and economic stability will be markedly diminished by the DOI’s actions. Despite these challenges, IADC remains committed to fostering intentional and pragmatic solutions that address the world’s escalating energy needs.”

ABOUT IADC

The International Association Drilling Contractors (IADC) is a non-profit trade association that is the global leader in advancing and promoting innovative technology and safe practices that bring oil and gas to the world’s consumers. More information.

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