01172018Wed
Last updateTue, 16 Jan 2018 4pm

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End-User News

U.S. to Expand Offshore Oil & Gas Drilling

On April 28, 2017, President Trump signed the America First Offshore Energy executive order. This order aims to expand offshore oil & gas exploration and production in the Outer Continental Shelf (OCS) through a review of the five-year leasing program and reconsideration of certain regulations pertaining to offshore energy potential. The order also directs the Secretary of the Interior to implement a streamlined permitting approach for privately funded seismic data collection to determine offshore energy resource potential.

In 2008, federal leasing revenues for the OCS were nearly $18 billion dollars. By contrast, in 2016, leasing revenues were approximately $2.8 billion. 

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