• 4 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 7 minutes Countries with the most oil and where they're selling it
  • 10 minutes Stack gas analyzers
  • 13 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 14 hours Trudeau Faces a New Foe as Conservatives Retake Power in Alberta
  • 4 hours Ecoside
  • 11 hours Oil at $40
  • 3 hours Japan’s Deflation Mindset Could Be Contagious
  • 18 hours Not Just Nuke: Cheap Solar Panels Power Consumer Appliance Boom In North Korea
  • 6 hours US Military Spend at least $81 Billion Protecting OPEC Persian Gulf Oil Shipping Lanes (16% DoD Budget)
  • 17 hours Haaretz article series _ Saudi Arabia: A Kingdom in Turmoil | Part 1 - Oil Empire
  • 2 days Guaido and the Conoco Award
  • 8 hours Mueller Report Brings Into Focus Trump's Attempts to Interfere in the Special Counsel Investigation
  • 2 days Welcome To The Club: Apple In Talks With Potential Suppliers Of Sensors For Self-Driving Cars
  • 13 hours Negative Gas Prices in the Permian
  • 13 hours Gas Flaring
  • 22 hours The Number Increases: Swiss To Support Belt And Road Push During President's China Trip
Alt Text

Libya’s Fragile Oil Renaissance Is Under Threat

Libya’s oil recovery under General…

Alt Text

Shale Jobs In Jeopardy Despite Oil Price Rally

Oil prices continue to rally,…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

U.S. Resources Set For Record Breaking Resurgence

Lots of natural resources news in America this week, with big opportunities opening in mining and energy in several spots across the country. 

The highest-profile happening was a new offshore petroleum lease sale — announced last Tuesday by the Department of Interior. It will make available the largest swath of drilling acreage ever seen in such a bid round.

The Department of Interior said that Lease Sale 250 — scheduled for March 2018 — will offer 76,967,935 acres in federal waters of the Gulf of Mexico, offshore Texas, Louisiana, Mississippi, Alabama and Florida. Making it the largest area ever included for bidding in the history of the U.S. industry.

All told, a full 14,375 blocks will be made available — including shallow- and deep-water projects. This makes this sale a key gauge of ongoing interest in the U.S. Gulf of Mexico, which has been one of the world’s most active offshore plays the last few decades. 

And the opportunities in U.S. resources don’t stop there.

Big openings are also coming in the state of Utah. Where local senator Orrin Hatch said Friday that the federal government will be making more land available — by reducing the size of two national monuments created under the Obama administration. 

Officials didn’t give details on the exact size of the planned reductions — which will affect Bears Ears and Grand Staircase-Escalante monuments. But the change should make prime acreage available for gold exploration and mining, which has recently pushed into Utah from prolific plays in next-door Nevada.  Related: 3 Potential OPEC Deal Killers

The move will also make more ground available for development of emerging shale plays like the Mancos — which has showed promise in nearby New Mexico. 

As a final note on the American resource resurgence, the state of Wisconsin is also looking to get in on the act. With legislators set to vote today to repeal a ban on sulfide mining that’s been in effect since 1998. 

With Wisconsin holding proven reserves of copper, zinc and gold that could set up a mining revival like we’re seeing in states such as Minnesota. Where state governor Mark Dayton publicly came out in support of new mining projects last week. 

Watch for results of the Wisconsin vote this week, and for more details on exact areas of Utah to be made available over the coming months. And for more resource opportunities coming in all parts of the rapidly-opening climes of America.

Here’s to a resource great.

By Dave Forest

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment
  • Meredith Larue on October 31 2017 said:
    That sounds great and all but break even cost on these types of projects average about $80 bbl. I just hope the clean air/ green protesters don't make a big stink about it. Why isn't shale expanding faster while break even price is said the be $50 bbl. Well something needs to be done as OPEC and its allies are on the offensive in a no holds barred direction.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News