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Federal update: GOMESA cap raise helps CPRA prospects but continuing resolutions could slow Corps funding
Summary
DOTV’s Neil McMillan told the board the GOMESA cap raise and new offshore leasing may boost coastal revenue, but continuing resolutions and shutdown risks delay Corps funding decisions and FEMA reimbursements, introducing schedule uncertainty for some CPRA projects.
Neil McMillan of DOTV provided a federal funding update highlighting policy and funding developments that affect CPRA’s project pipeline.
McMillan said the recent increase in the Gulf of Mexico Energy Security Act (GOMESA) cap and renewed offshore lease activity improved revenue prospects for coastal projects. "We finally raised it," he said in reference to the GOMESA cap raise, and…
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