Ofshore producers reeling from a judge’s cancellation of $192mn worth of leases in the US Gulf of Mexico are bracing for more court decisions in the months ahead, and a possible long wait for the sale of new leases. The cancellation of those leases, in a 27 January ruling, by itself rattled ofshore producers that see a stable regulatory environment as critical to support projects that take years to develop. But an upcoming cutof to new leasing that is likely to last until at least 2023, along with another lawsuit challenging hundreds of other ofshore leases, has perturbed producers. “It is huge, like 11 out of 10,” one industry ofcial says.
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