Providence Energy Group is currently exploring for petroleum in the Country of Belize. In 2007, we were awarded approximately 500 square miles of concessions (drilling rights) in the southern portion of the country.
Results published by the US Bureau of Ocean Energy Management (BOEM) indicate a new low in industry interest for western Gulf of Mexico lease sales. Just three firms submitted 24 bids on 24 blocks in Lease Sale 248 on Aug. 24, BOEM reported from the event in New Orleans. Bids totaled $18 million.