Bud's Offshore Energy (BOE)

… since the last US offshore oil and gas lease sale. As a result…

• the number of active leases has fallen below 2000 (1987 as of July 1, 2022) for the first time in at least 40 years
• 99.4% of the US OCS is closed to exploration
• exploration opportunities continue to dwindle negatively affecting reserves (more on this in an upcoming post)

Of the 1.7 billion acres on the US OCS, 10.6 million are currently open to exploration and development.