GoM Lease Fetches $159mln in High Bids

Laxman Pai
Friday, August 23, 2019

Gulf of Mexico (GoM) Lease Sale 253 in New Orleans generated over $159 million in high bids for 151 tracts covering 835,000 acres in federal waters.

Twenty-seven companies participated in the lease sale, submitting approximately $175 million in bids, said Bureau of Ocean Energy Management (BOEM).

“We are excited about the results from today’s lease sale, which show a continued upward trend for the year. The total from today’s lease sale and the March sale is the highest since 2015 for high bids,” said Interior’s Deputy Assistant Secretary for Land and Minerals Management Andrea Travnicek.

 “The Gulf of Mexico continues to be a critical part of our nation’s energy infrastructure strengthening our country through increased national security, job creation, and revenues for the American people," Travnicek added.

Lease Sale 253 included 14,585 unleased blocks, located from three to 231 miles offshore, in the Gulf’s Western, Central and Eastern Planning Areas in water depths ranging from nine to more than 11,115 feet (three to 3,400 meters).  

“The Gulf of Mexico is the crown jewel of our nation’s energy portfolio,” said Mike Celata, director of BOEM’s New Orleans Office. “As one of the most productive basins in the world, the development of its resources are essential to the nation’s energy security.”

Revenues received from Outer Continental Shelf (OCS) leases (including high bids, rental payments and royalty payments) are directed to the U.S. Treasury, certain Gulf Coast states (Texas, Louisiana, Mississippi, and Alabama), the Land and Water Conservation Fund, and the Historic Preservation Fund.

Categories: Offshore Government Update Offshore Energy Gulf of Mexico Bid

Related Stories

Keel Laying for Wind Flyer Trimaran Crew Boat

Sapura Energy Nets $720M from Multiple Drilling Services Contracts

ADNOC Secures LNG Supply Deal with India's BPCL

Japan's Mitsui Eyes Alaska LNG Project

Flare Gas Recovery Meets the Future

Subsea Redesign Underway for Floating Offshore Wind

The Five Trends Driving Offshore Oil & Gas in 2025

ABS Approves Hanwha Ocean’s FPSO Design

Floating LNG Conversion Job Slips Out of Seatrium’s Hands

QatarEnergy Signs Deal with Shell for Long-Term LNG Supply to China

Current News

Fire at Petronas Gas Pipeline in Malaysia Sends 63 to Hospital

Japan’s ENEOS Xplora, PVEP Ink Deal for Vietnam Offshore Block

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Valeura’s Assets in Gulf of Thailand Remain Operational After Earthquake

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

Keel Laying for Wind Flyer Trimaran Crew Boat

MODEC Gets Shell’s Gato do Mato FPSO Ops and Maintenance Job

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com