$244+ Million in High Bids Made for Federal Gulf of Mexico Leases


In state news, oil and gas companies made over $244 million dollars in high bids for federal leases in the Gulf of Mexico.
This is about 37% above what the last gulf-wide sale generated in August. The Bureau of Ocean Energy Management said 30 companies bid on 227 tracts on Wednesday, covering 1.2-6 million acres. 

More than 78 million acres were available, with 1.6% attracting bids. There were over $115 million dollars in high bids for blocks more than a mile deep and over $113 million dollars for waters between half a mile and a mile deep.

Equinor Gulf of Mexico LLC’s $24.5 million dollars was the highest single bid.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Local News

More Local

Trending Stories