Bud's Offshore Energy (BOE)

See the differences in the OCS oil and gas provisions in the House and Senate versions.

We preferred the House version, but the Senate Parliamentarian killed the provisions that reduced the risk of litigation and processing delays.

Whether justified or not, the royalty rate is now capped at 1/6 and a 10-year deepwater lease term is locked in.

The favorable terms and assurance of regular GOA lease sales put the ball squarely in industry’s court. We are looking for a good showing at Sale 262, including some new bidders and the return of some prominent companies.