Offshore update ///

In its Summer 2001 issue of Inside Tech Transfer, the U.S. Department of Energy’s National Energy Technology Laboratory (NETL) features a six-page review of an important public policy analysis to encourage domestic oil/gas production. The article’s introduction says NETL has completed a comprehensive evaluation of "marginal properties" in the Gulf of Mexico. Objectives of the study are twofold: 1) develop a methodology to predict when existing oil and gas leases are expected to reach their economic limit; and 2) determine what impacts specified economic incentives, in terms of Federal royalty relief, would have in extending economic life of these leases, thereby maximizing their production.

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