GOM oil and gas leases to swarm market in 2006Deepwater leases from large 1996-98 sales will soon start to expire; only 6.5 percent of 3,200 leases issued 1996-2000 have been drilled so far Ray Tyson Petroleum News Houston Correspondent
Several thousand oil and gas leases in the deepwater Gulf of Mexico, scooped up by industry during some of the largest sales in the region’s history, will begin expiring over the next few years without being explored, no doubt altering the dynamics of future sales as new leases pour on to the market....
[additional news subjects in this story]
Record-setting sales from 1996-1998 Huge inventories, limited rig fleet equal untested leases Some explorers will have new ideas
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