NEW ORLEANS – The US Gulf of Mexico region-wide Lease Sale 259 held today attracted 353 bids from 32 companies, with high bids totaling nearly $264 million. The amount of activity surpassed the previous lease sale spend in 2021, demonstrating optimism for the region, according to Wood Mackenzie analysts.
- High bids increased by $72 million (38%) compared to total lease sale spend in 2021
- A total of 313 blocks received bids, only five more than the prior sale
- The number of deepwater blocks receiving bids increased by 30%
- The high bid amount was the highest since 2019
- Bids/acre for deepwater blocks also increased 22% to $216/acre
- A total of 98 blocks on the shelf received bids, with ExxonMobil bidding on 69 of them.
Commenting on the results, Justin Rostant, principal research analyst at Wood Mackenzie, said: