Notes

How Biden halts new oil and gas leasing and drilling permits can Save You Time, Stress, and Money.


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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://static.reuters.com/resources/r/?m=02&amp;d=20200324&amp;t=2&amp;i=1507511370&amp;r=LYNXMPEG2N0WG&amp;w=800" alt="How do they prepare land for an oil rig? - HowStuffWorks"><span style="display:none" itemprop="caption">A drilling rig on a lease owned by Oasis Petroleum performs logging operations in the Permian Basin oil and natural gas producing area near Wink, Texas U.SAugust 22, 2018Picture taken</span>
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<h1 style="clear:both" id="content-section-0">Indicators on EX-10.2 - SEC.gov You Should Know<br></h1>
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<p class="p__0">"These are clearly unsure times, with COVID-19 and the low oil cost," Celata stated. "I'm happy, given whatever that has occurred, at the size of the sale. The Gulf has a long future [for oil production]" Expectations for the sale were dim due to the fact that of reduced global oil need and low oil rates triggered by the COVID-19 pandemic.</p>
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<p class="p__1">"Back in the 2014 era, we used to have billion-dollar auctions," Yahya stated. "We're really scraping the bottom of the barrel here." There were 105 bids positioned during the Wednesday auction a healing from March when just 84 were positioned, but below 165 in August of 2019. The greatest quotes were put by subsidiaries of European oil companies Royal Dutch Shell, Equinor and BP, all of which put more than $17 million in quotes, with Shell spending the most on Wednesday at $28 million.</p>
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<p class="p__2">A handful of Texas energy business, consisting of a subsidiary of Murphy Oil, which recently said it would transfer its headquarters to Houston from Arkansas, made smaller deals. Murphy placed $5. 3 million in quotes. Agency officials decreased to comment throughout an interview on whether holding the lease sale was inspired by the inbound Biden administration's stance on renting federal lands and waters for oil production.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://assets.nrdc.org/sites/default/files/styles/full_content--retina/public/media-uploads/oil-rig-2191711_1920_0.jpg?itok=E96z8Gjj" alt="Complying with Court Order, U.Sto Hold Gulf of"><span style="display:none" itemprop="caption">Wyo drilling rig count triples during Biden leasing pause - WyoFile</span>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://oilleasesandrigs.com/wp-content/uploads/oil-rigs-running-at-dusk.jpg" alt="Devon must complete lease on offshore oil rig"><span style="display:none" itemprop="caption">Drill pipe is seen below a drilling rig on a lease owned by Oasis Petroleum in</span>
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<p class="p__3">This auction had actually been pushed back from August, authorities said, due to COVID-19 (although Yahya stated the hold-up was likely an effort to await oil prices to stabilize following the governmental election). "Without commenting on proposed policy by inbound administration authorities, our lease blocks are used often times," said Kate Mac, Gregor, deputy secretary of the Department of the Interior.</p>
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<p class="p__4">dependence on more carbon-intensive coal-fired power plants. "A budget-friendly and dependable energy supply is necessary to a strong America," Staples said. Ecological groups criticized the lease sale as a desperate effort by the Trump administration to prefer the oil and gas market instead of transferring to shift the U.S. to kinds of energy that are less carbon-intensive.</p>
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<p class="p__5">"This lease sale is putting fuel on the flames of climate change," said Emma Pabst, an international warming services advocate with Environment Texas. "It's steadily burning through what little time we have left to act." www.oilrigsnow.com : BP America,.</p>
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