NOIA President Randall Luthi Comments on WGOM Sale 218

 

For Immediate Release:                                              Contact:  Nicolette Nye

Wednesday, December 14, 2011                (202) 347-6900

                                                                                         (703) 732-0801

 

 

NOIA President Randall Luthi Comments on WGOM Sale 218

 

Washington, D.C. NOIA President Randall Luthi today issued the following statement on Western Gulf of Mexico Lease Sale 218:  

“From our point of view the most important thing today is that this lease sale took place.  After nearly two years without a sale in the Gulf, companies are understandably eager to secure new leases for new projects, and we saw that today in the number of bids submitted and the healthy mix of majors and independents.  Clearly interest in the deepwater areas remains high, with nearly 85% of bids on deepwater tracts.  This reflects not only the expectation for the resource potential in these areas, but also demonstrates a level of confidence moving forward that lessons learned from last year’s spill have been internalized. This sale is a step in the right direction toward getting companies back to work producing new, vitally important domestic offshore oil and gas, generating much needed revenue for the cash-strapped federal government, and creating thousands of jobs, not just in the Gulf of Mexico, but across the U.S. as well.”

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NOIA is the only national trade association representing all segments of the offshore industry with an interest in the exploration and production of both traditional and renewable energy resources on the nation’s outer continental shelf.  NOIA’s mission is to secure reliable access and a fair regulatory and economic environment for the companies that develop the nation’s valuable offshore energy resources in an environmentally responsible manner. The NOIA membership comprises more than 270 companies engaged in business activities ranging from producing to drilling, engineering to marine and air transport, offshore construction to equipment manufacture and supply, telecommunications to finance and insurance, and renewable energy.