Interior Takes Bids On 38M-Acre Offshore Lease Sale

Law360, New York (May 17, 2012, 6:40 PM EDT) -- The Obama administration announced Thursday that it was accepting bids for a massive offshore lease sale next month that would open a 38.6-million-acre expanse of the Gulf of Mexico for oil and natural gas development.

The Bureau of Ocean Energy Management is giving oil and gas operators until June 19 to file bids on as many as 7,276 blocks the administration is making available off the coasts of Louisiana, Mississippi and Alabama.

The lease sale, which the administration has advertised throughout the year, will open all...
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