LMOGA Statement on Offshore Lease Sale

Baton Rouge — Tommy Faucheux, President, Louisiana Mid-Continent Oil & Gas Association (LMOGA) Statement on today's offshore lease sale:

“Today’s Big Beautiful Gulf 3 Lease Sale demonstrates the offshore energy industry’s continued commitment to investing in the Gulf of America. Twelve companies submitted 69 bids totaling $99,476,285 with $82,689,756 in high bids covering 330,150 acres. Today’s results reinforce the Gulf’s critical role in meeting our nation’s energy needs.

Most important, consistent and predictable lease sales are essential to providing the certainty companies need to make the long-term, multi-billion-dollar investments required for offshore energy development. Those investments support thousands of jobs and businesses across Louisiana and are especially important to the coastal communities whose workers, ports, shipyards and service companies have supported Gulf energy production for generations.

LMOGA will continue advocating for federal policies that encourage increased domestic energy production and capital investment in the Gulf of America. A strong Gulf means a stronger Louisiana, greater American energy security, and continued economic opportunity for the communities that make offshore energy production possible.”

About LMOGA. The Louisiana Mid-Continent Oil & Gas Association (LMOGA), founded in 1923, is a trade association exclusively representing all sectors of the oil and gas industry operating in Louisiana and the Gulf of America. LMOGA represents exploration and production, refining, transportation, marketing, and mid-stream companies as well as other firms in the fields of law, engineering, environment, financing, and government relations.