Gulf oil and gas lease sale ongoing

oil-rig

SPANISH FORT, Ala. (WALA) – Central Gulf of Mexico oil and gas exploration will be the focus of a public hearing Wednesday, April 9 in Spanish Fort. The meeting, which will be held at Five Rivers, is on proposed leases across much of the central Gulf.

Just before the BP oil spill in March 2010, President Barack Obama announced the exploration of federal waters in the eastern Gulf. Shortly after the oil spill, a moratorium was put on that proposal and it is still in place.

The zones open for three mile tracts extends from Louisiana to three miles off the coast of Mobile County and Fort Morgan. East of Fort Morgan there is an 18 mile exclusion zone from the beaches of Gulf Shores and Orange Beach.

The last sale was concluded this March when more than 300 of the 3 mile tracts were sold for more than $800 million in bids. FOX10 News Reporter Matt Barrentine will break down how this process works tonight on FOX10 News at 5 p.m.

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