• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 2 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 31 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 12 hours "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 4 hours Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 2 days Did China cherry-pick the factors that affected the economic slow-down?
  • 16 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 4 hours Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 19 hours Are you aware of Oil Price short videos on our energy topics?
  • 1 day Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 1 day NordStream2
  • 3 hours The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 411 days Class Act: Bet You've Never Seen A President Do This.
The Commercial Case For Green Hydrogen

The Commercial Case For Green Hydrogen

Hydrogen, especially green hydrogen, has…

Are Oil And Gas Drillers Still Interested In Lease Sales?

The U.S. Administration is holding this week an oil and gas lease sale in New Mexico while American producers curtail production in response to low oil prices and environmentalists and indigenous groups protest lease sales and drilling plans.

The Bureau of Land Management (BLM) has scheduled the oil and gas lease sale in New Mexico for the week starting May 18, and the online auction is set to begin on May 20 and end on May 21. BLM proposes to offer 95 parcels totaling 45,446 acres in Chaves, Eddy, and Lea counties in New Mexico; and Wise County in Texas.

The oil and gas lease sale in the state home to the westernmost part of the Permian basin will be the first auction for drilling on federal land since U.S. benchmark prices flipped negative in April a day before the expiry of the May futures contract of WTI Crude.

While BLM says that the lease sale is keeping with the Administration’s goal of promoting American energy security, environmentalists and other groups have protested against the sale, saying that public comments on the auction have been hampered by the COVID-19 outbreak.

WildEarth Guardians also said earlier this month that BLM and the Bureau of Indian Affairs (BIA) denied requests to suspend the public comment period on a controversial drilling plan for the Greater Chaco region.

“Ignoring these requests, the Bureau of Land Management is refusing to relent on the Trump’s Administration’s “energy dominance agenda,” despite record low oil prices questioning whether oil and gas drilling is now revenue negative for communities and New Mexico at-large,” WildEarth Guardians said.

In March, after oil prices crashed, the U.S. Administration held oil and gas lease sales in four states, despite calls for immediate suspension of oil and gas drilling lease sales on federal land amid slumping prices. The lease sale of 75 parcels in Wyoming raised more than $3.4 million, BLM said.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News