Offshore Oil and Gas Leasing

Finding petroleum is not the only requisite to production. Before an oil company can develop a reservoir, it must obtain the legal rights for such exploitation. For offshore tracts in the United States, legal rights to explore are regulated by federal and state governments.

In this module you will learn:

• Federal and state governments regulate offshore rights
• Leases in the Gulf of Mexico planning areas are managed
• Companies compete and cooperate for oil in the same petroleum reservoir
• The lease sale process works
• Bids are developed, approved or rejected

In order to successfully complete this module you will be required to:

• Go through all the lessons in the module.
• Complete the practice items.
• Complete the module quiz with a passing grade of 70%. You will have 2 chances to complete the quiz.

At the end, you will receive a Certificate of Completion.  It should take you approximately 45-60 minutes to complete this module.

For multiple licenses or to use the Introduction to Petroleum e-learning module in training, please contact us at 800.687.4132 or 512.471.5940 or by sending an email to info@petex.utexas.edu.