"U.S. Extends Deep-Water Drilling Leases"

"The Obama administration announced Monday that it has extended nearly 1,400 deep-water oil and gas drilling leases to make up for delays caused by last year's Gulf spill and a subsequent moratorium on some offshore exploration."

"The extensions of up to a year were aimed at compensating offshore energy companies for the five-month deep-water drilling ban and giving them more time to meet new safety and environmental standards imposed on that work.

Ultimately, federal regulators approved 1,381 -- or 97.7 percent -- of 1,413 extension requests, according to the Interior Department's Bureau of Safety and Environmental Enforcement."

Jennifer A. Dlouhy reports for the Houston Chronicle October 31, 2011.