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(3,811 posts)

14. It's a routine LEASE -- not an outright selling of the seafloor.

Wed Aug 20, 2014, 09:12 PM

Aug 2014

The initial lease on these blocks is generally 5 years, with options to extend to the lease periods based on certain conditions.

http://www.psg.deloitte.com/newslicensingrounds_us_130415.asp

(on edit : the above link is regarding oil and gas lease sale 227. This is the wrong lease sale. The lease sale referenced in the OP is 228. see link below.

http://www.offshore-mag.com/articles/2014/08/western-gulf-of-mexico-lease-sale-high-bids-total-more-than-109-million.html )

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Highlight:

US government sells 400,000 acres offshore Texas [View all] Judi Lynn Aug 2014 OP

Bad blkmusclmachine Aug 2014 #1

Isn't that just too special. dixiegrrrrl Aug 2014 #2

They waited till Ricky boy was booked to do this shit. L0oniX Aug 2014 #7

Now you're being silly! Steerpike Aug 2014 #4

Gee ...what could go wrong with that. Fuck this shit! L0oniX Aug 2014 #5

So we sell the land? Not lease it? newthinking Aug 2014 #6

That is a little disturbing. ohnoyoudidnt Aug 2014 #12

...^ that 840high Aug 2014 #10

no kidding glinda Aug 2014 #13

It's a routine LEASE -- not an outright selling of the seafloor. cheapdate Aug 2014 #14

Thanks for the clarification newthinking Aug 2014 #15

I'm not in favor of drilling in the Gulf either. cheapdate Aug 2014 #16

thanks for the clarification. nt Duppers Aug 2014 #17