GPI+ — Gulf Permit Index — as of June 30

NEW ORLEANS — Today, Greater New Orleans, Inc. (GNO, Inc.) and several partnering organizations released the thirty-first Gulf Permit Index (GPI) to the public. This edition, the twelfth GPI+, includes data on deep- and shallow-water permit issuance taken from the Bureau of Safety and Environmental Enforcement (BSEE) as well as data on exploration and development plans taken from the Bureau of Ocean Energy Management (BOEM). The two agencies replaced the Bureau of Ocean Energy, Management, Regulation, and Enforcement (BOEMRE) on October 1, 2011.

In June 2012, deep-water permit issuance fell from the prior month’s levels, but still exceeds the monthly average observed in the year prior to the oil spill. Nine permits were issued, representing a 3-permit — or 50% — increase from the average of 6 permits per month. This number also represents a 2-permit — or 29% — increase from the historical average of 7 permits per month over the past three years.

Shallow-water permit issuance remains below the historical averages. Through the month, 4 shallow-water permits were issued. This number represents a 3-permit — or 43% — reduction from the monthly average of 7 permits per month observed in the year prior to the oil spill. This number also represents an 11-permit — or 73% — reduction from the historical average of 15 permits per month over the past three years.

The GPI+ also shows a sharp increase in the average number of days taken to approve plans.

The average approval time for a plan was 107 days, compared to the historical average of 61 days. This number represents a 75% increase above historic approval times. This is due in a large part to the June 2012 approval of a plan submitted in June 2009 (approval time of 1,093 days). If this outlier is eliminated, the average approval time for plans approved in June is 99 days—still significantly longer than the 5-year historical average.

Charts tracking approved new permits for deep- and shallow-water drilling are below. In addition, a chart detailing the changes in average approval time can be found below. Raw data on number of permits issued and plans approved is taken from the BSEE and BOEM websites. Research and analysis was performed by GNO, Inc. staff members.

GNO, Inc. will continue to monitor permits and plans being reviewed by BSEE and BOEM, respectively. The organization will report on its findings every month with updated GPI+ reports. The GPI+ is provided by GNO, Inc. and its parish partners in collaboration with the Business Council of New Orleans & the River Region, Jefferson Business Council, and Northshore Business Council.