Details outlined for Gulf lease sale

(Source: MGN Online)
(Source: MGN Online)

The Bureau of Ocean Energy Management has announced the final details of the lease sale for the western Gulf of Mexico.

Lease Sale 233 will take place Aug. 28.

It covers about 20 million acres of offshore Texas for oil and gas exploration.

It is estimated that the proposed lease could result in the production of 116 to 200 million barrels of oil.

The sale will be held at the Superdome in New Orleans.

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