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Why Are the Majority of Leased Offshore Federal Waters Non-Producing?

May 17, 2022 by

“Finding oil and gas is a prospective business and companies need to cast a wide net of lease blocks to identify and develop commercially viable discoveries. Non-producing leases are not ‘idle’. Just because there is no surface activity occurring at a lease block does not mean it is ‘idle’,” Milito said.

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