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Last Week In Petroleum - Dec. 14, 2011

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THIS WEEK IN PETROLEUM REPORT RELEASE – December 14, 2011

This Week In Petroleum

Leasing resumes, but trends in Gulf of Mexico production hinge on the timing and productivity of current deepwater developments

Today in New Orleans, the Bureau of Ocean Energy Management (BOEM) is holding Western Gulf of Mexico Lease Sale 218, the first oil and natural gas lease sale in the Gulf of Mexico since all leasing and most drilling activity was suspended in the wake of the Macondo disaster in April 2010. Lease Sale 218 follows the gradual resumption of exploration and development drilling in the deepwater U.S. Gulf of Mexico (GOM).

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