Gulf of Mexico Lease Sale 250 - bargain hunter's paradise
The US Gulf of Mexico region-wide Lease Sale 250 was held on 21 March 2018. It attracted 159 bids from 33 participating companies, with high bids totalling US$124.8 million. On the surface it seems like a major rebound in activity from the last lease sale. But the total high bid amount is still close to historic lows, only increasing 3% from the August 2017 lease sale. Operators main focus was blocks around existing infrastructure and proven discoveries.