Big News for the Oil and Gas Industry

Photo source: YouTube 

Photo source: YouTube 

In what looks like a return to offshore drilling, the latest lease sale drew a near record.  

An offshore lease sale held in New Orleans Wednesday drew $244.3 million in winning bids, almost double what a similar lease sale in March 2018 drew.

"Today's lease sale shows strong bidding by established companies, which indicates that the Gulf of Mexico will continue to be a leading energy source for our nation long into the future," Interior Assistant Secretary Joe Balash said in a statement.

Read more: Interior reports offshore lease sale doubled from 2018

Posted on March 22, 2019 .