U.S. Oil And Gas Lease Sales Resume Despite Weak Interest

Despite the wave of U.S. oil and gas industry bankruptcies and layoffs as a result of the pandemic, the United States government has decided to resume its oil and gas lease sales that it had canceled earlier in the year, according to Reuters. The lease sale, which began on Wednesday, was for land in New Mexico and Oklahoma, but enthusiasm for spending money on additional assets at a time of uncertainty with regards to oil demand was subdued. Still, multiple blocks out of the 2,800 acres of land were awarded, but at lower-than-usual prices. On Thursday,…