offshore

The World’s Next Giant Oil Discovery Could Be Here

There’s a breaking energy story that could potentially be a repeat of Texas’ multi-billion dollar Midland Basin…

A basin that has been producing since the 1930s and won’t reach peak production until 2035 at a phenomenal 3.8 million boe/d …

The most trusted name in natural resource assessments—Wood Mackenzie–says this new discovery is analogous not just to the giant Midland, with a development value of $540 billion, but to two other world-class basins.

In fact, it could become one of the most interesting stories of 2021… And the oil and gas rights to the ENTIRE Basin is owned by one small oil explorer that goes by the name of Reconnaissance Energy Africa.

One of the key men behind what could end up being the onshore exploration play of the decade, former Navy Submarine Force Yeoman Dan Jarvie, once searched the depths of the Pacific for submarines…

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Source: Oil Price

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These U.S. Oil States Are Holding Lease Sales In January

Several U.S. states will hold oil and gas lease sales via EnergyNet in January, with most of the bids due before January 20 when President-elect Joe Biden is scheduled to take office.

Biden’s energy plan favors renewables development and promises a ban on new oil and gas leases on federal lands.

Alaska, New Mexico, Texas, and North Dakota plan oil and gas lease sales this month, according to the EnergyNet schedule.

The Alaska Department of Natural Resources will be offering 284 tracts covering an estimated 867,841 acres in the Beaufort Sea area, in an online sealed bidding that ends on January 7. Alaska DNR is also offering oil and gas lease sales in the North Slope area, with bidding ending on January 7.

BLM is holding on January 14 an online sale of 37 parcels covering 6,850.72 acres in New Mexico, Texas, Oklahoma, and Kansas.

The Texas General Land Office will hold on January 19 an oil and gas lease sale, offering 66 Tracts covering 22,500.607 net mineral acres available for lease.

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Source: Oil Price

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