Assessment of the potential resource of oil and gas off the U.S. east cost has to date been based on 25+ year-old seismic data. A newer generation of seismic will better define drilling potential and allow us to make more informed decisions about exploring there.
But it would be at least five years before the government sold any leases in Atlantic waters. Interior Department plans governing those decisions through 2017 do not include selling leases in the region.
Commercial production, if and when it ever happens, is a long, long way off.