Name: Gulf of Mexico 2016 Western Lease Sale 248 attracts few bids
Brand: Wood Mackenzie
SKU: 48268
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Author: Wood Mackenzie

Insight 25 August 2016

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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Western Lease Sale 248 was held on 24 August 2016 and attracted 24 bids. ExxonMobil, BP and BHP Billiton were the only three companies to bid and bonuses totalled just US$18.1 million, compared to US$22.7 million in 2015. The sale breaks last year's record for the lowest number of bids since the inception of offshore federal lease sales in 1983. All bids were uncontested and there were no joint bids. Only two bids exceeded US$1 million, creating the possibility for BOEM to reject insufficient bids. For the first time since 1995, no bids were placed in the shallow waters of Gulf of Mexico.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle font-semibold">
        BHP builds its position in western deepwater GoM
    </li>

<li class="list__item-toggle font-semibold">
        Future lease sales poised for higher participation
    </li>

<li class="list__item-toggle font-semibold">
        Regulations and price environment impact shallow water bidding
    </li>

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<h3 class="alpha push-half--bottom">Tables and charts</h3>

<p class="push-half--bottom">This report includes the following images and tables:</p>

<ul class="list list--bullets">
        <li class="list__item push-quarter--bottom">Annual acreage expirations, deepwater Gulf of Mexico</li><li class="list__item push-quarter--bottom">Apparent high bidders by block in Western Lease Sale 248</li>
    </ul>

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<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >US GoM Western Lease Sale 248.xls</p>
<p class="uppercase delta">
    <span>XLS</span>
    <span>359.50 KB</span>
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</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Gulf of Mexico 2016 Western Lease Sale 248 attracts few bids</p>
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