Energy Department Closes $480 Million Loan to Expand American Energy Production and Strengthen Offshore Infrastructure in the Gulf of America

DOE News·Nov 10, 2026 · 12:13 PM CT

Readthrough summary

The Department of Energy closed a $480 million loan for Arena Energy's Project Elkhorn, which will modernize 22 offshore platforms off Louisiana. At peak the project is expected to add up to 38,600 barrels of oil and 77 million cubic feet of gas per day, and DOE says it's the office's first closed loan supporting oil and gas production.

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Read the original at DOE News

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