Friday, June 9, 2017

BSEE rule allows industry more development time - WorldOil.com

Interesting change...good for the companies doing exploration & development.


"A final regulation by the Bureau of Safety and Environmental Enforcement (BSEE) doubles the amount of time offshore oil and gas operators will have to coordinate development operations and retain their leases in federal waters of the U.S. Outer Continental Shelf.
“This rulemaking extends the time from 180 days to one year between production, drilling or well-reworking operations on a lease,” said BSEE Director Scott Angelle. “These additional months mean companies doing business on the Outer Continental Shelf will have more planning flexibility, which will help them be more cost efficient, create more jobs and maximize the economic benefit for the entire nation,” he said."

There was an error in this gadget