Gulf of Mexico Drillers Hand Back Gas,Oil Leases

摘要

Operators in the US Gulf of Mexico are relinquishing oil and gas leases at a higher clip this year compared to 2019 as they continue to pare their exploration portfolios amid deep uncertainty across the energy sector.A total of 43 Gulf leases have been relinquished so far this year,up from 30 through May 12,2019-a 43% year-over-year increase-according to data from the US Bureau of Ocean Energy Management (BOEM)compiled by Energy Intelligence.The increase correlates with the shutdown of the global economy that took hold in April in response to the coronavirus pandemic and caused crude prices to plummet to record lows later in the month.