Monday, October 19, 2015

Interior Department Cancels Arctic Offshore Lease Sales & Reactions

<> Interior Department Cancels Arctic Offshore Lease Sales - In light of current market conditions and low industry interest, the U.S. Department of the Interior announced that it will cancel the two potential Arctic offshore lease sales scheduled under the current five-year offshore oil and gas leasing program for 2012-2017 -- Bureau of Safety and Environmental Enforcement (BSEE) also denied requests from Shell and Statoil for lease suspensions, which would have extended the expiration date of the leases.