Farm Progress is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Serving: IN
U.S. Oil Leases Untouched

U.S. Oil Leases Untouched

DOI will be exploring ways to bring production online.

Many U.S. oil leases remain untouched both on and off shore. In fact, a report requested by President Obama and released by the Department of the Interior shows that more than two-thirds of offshore leases in the Gulf of Mexico and more than half of onshore leases on federal lands remain idle, neither producing nor under active exploration and development by companies who hold those leases.

Interior Secretary Ken Salazar says this report shows millions of acres that have already been leased to industry for oil and gas productions sit idle. These are resources that belong to the American people, and they expect those supplies to be developed in a timely and responsible manner and with a fair return to taxpayers. Salazar promised they will explore ways to provide incentives to companies to bring production online quickly and safely.

Included in the report are unused rights in the Gulf of Mexico, which potentially could hold more than 11 billion barrels of oil and 50 trillion cubic feet of natural gas.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.