11172018Sat
Last updateThu, 15 Nov 2018 4pm

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Interior Department Cancels Arctic Offshore Lease Sales

In light of current market conditions and low industry interest, the U.S. Department of the Interior will cancel the two potential Arctic offshore lease sales scheduled under the current five-year offshore oil and gas leasing program for 2012-2017. The 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.

Beaufort Sea Lease Sale 242 had been scheduled potentially for the first half of 2017. BOEM published a Call for Information and Nominations in July 2014, but only received one nomination, thereby raising concerns about the competitiveness of any such lease sale at this time. 

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