A total of 50 companies submitted a 350 bids for a combined $850 million for 1.7 million acres off the coast of Louisiana at the federal government’s Central Gulf of Mexico Lease Sale, held March 19th in New Orleans.This is great news for investors and employers in the energy sector, as it heralds another year of serious business interest in Gulf of Mexico energy production.
According to Lori Leblanc, executive director for Gulf Economic Survival Team, “It’s this confidence in the valuable resources of America’s Gulf that continues to drive our national and state economy, fund the U.S. government, employ hundreds of thousands of men and women across our country, and keep the lights on from Portland, Oregon to Portland, Maine…We proudly do a job that other states refuse to do, a job that literally fuels America.”
Lori LeBlanc was recently invited to make a presentation to the Alliance for Economic Development in Georgetown, SC last week, to an audience that included business men and women with a strong interest in oil and gas development in the Atlantic Outer-Continental Shelf. She spoke about the benefits of the oil and gas industry specific to the State of Louisiana, and discussed topics including how Louisiana has balanced energy development and environmental stewardship.
Source: Gulf Energy Survival Team Newsletter, March 20th, 2014