^®: CRE Regulatory Action of the Week

BOEM Proposes Gulf of Mexico Oil and Gas Sale
The Bureau of Ocean Energy Management has offered 38 million acres in the Central Gulf of Mexico for oil and gas exploration and development. This proposed sale follows recent two major Gulf of Mexico lease sales: a 21 million acre sale held last December and a 39 million acre sale held in June. According to BOEM, domestic oil production in 2011 was higher than any time in eight years. Affected States may comment on the size, timing, and location of proposed CPA Sale 227 within 60 days following their receipt of the Proposed NOS. The Final NOS will be published in the Federal Register at least 30 days prior to the date of bid opening. Bid opening is currently scheduled for March 20, 2013.