THE WOODLANDS, TEXAS, September 14, 2023 – Arena Energy, LLC (“Arena”), a leading independent oil and gas exploration company focused on the Gulf of Mexico Shelf, recently announced it 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 feet 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.”
About Arena Energy
Arena Energy, LLC was founded in 1999 on the belief that mature producing areas of the Gulf of Mexico Shelf still held vast potential – and that with the right technology, talented oil and gas finders could unlock these drilling opportunities. Today, that vision has been realized many times over. Since its founding, Arena has grown into one the largest private offshore oil and natural gas companies, having invested more than $4 billion of capital in the Gulf of Mexico, paid $1.4 billion in royalties to the federal government, and decommissioned over three hundred wells and forty-five platforms and other structures. Arena takes pride in safely and responsibly producing the energy that powers the United States and the world.
Vice President – Government Affairs