Arena Energy wins seven leases in Gulf of Mexico to develop offshore oil, natural gas projects

World Oil Staff September 19, 2023

(WO) – Arena Energy, LLC, an independent oil and gas exploration company focused on the Gulf of Mexico Shelf, was awarded seven leases by the Bureau of Ocean Energy Management (BOEM) in Lease Sale 259.

Arena was the successful high bidder on seven leases in Lease Sale 259 held on held May 29, 2023. These leases—totaling 34,965 acres—range in water depth from 62 to 217 ft in the Gulf of Mexico, off the coasts of Texas and Louisiana in the Eugene Island, Main Pass, and Matagorda Island areas.

Mike Minarovic, CEO of Arena Energy, said "Arena Energy continues to grow and lead the offshore oil and natural gas industry on the Gulf of Mexico Shelf. We look forward to investing in and developing these leases and again applaud Chairman Joe Manchin for requiring that BOEM conduct Lease Sale 259 in the Inflation Reduction Act. Lease sales are the lifeblood of continued production in the U.S. Gulf of Mexico, where we produce the cleanest barrels in the world."

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