Insight
Gulf of Mexico lease sale 251 - confidence builds
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The US Gulf of Mexico region-wide Lease Sale 251 was held on 15 August 2018. It attracted 171 bids from 29 participating companies, with high bids totalling US$178.1 million, a 43% increase from the March 2018 lease sale. Risk appetite increased as majors acquired remote acreage, but infrastructure rich protraction areas continued to receive strong bidding interest. The total high bid amount remained low relative to historical lease sales, but capital is returning to the Gulf of Mexico.
Table of contents
-
Sale analysis
- A marathon, not a sprint
- A blast from the past
- Operators show signs of increased risk appetite
- (Some) Independents show up
- Smaller players pushdeeper
- Shelf: back to business as usual
-
Putting it all together
- Acreage on offer
-
Terms and conditions
- Timeline
- Evaluation process
Tables and charts
This report includes the following images and tables:
- Fiscal benchmarking using government share and company IRR
- Top 10 companies by high bids in deepwater
- Western Gulf of Mexico bid results
- Most recent lease sales
- Shelf bids and bonuses by lease sale (2010-2018)
What's included
This report contains:
Other reports you may be interested in
Insight
US upstream in brief: Chevron and ExxonMobil exceed Q3 expectations
The US week in brief highlights the need-to-know current events from US upstream. Stories are supplemented with proprietary WoodMac views.
$1,350
Asset Report
Veracruz Basin
The Veracruz basin is located to the south of the Tampico-Misantla basin along the coastal plain of the Gulf of Mexico. The basin ...
$3,720
Asset Report
Perdido Area Discoveries
In 2012, after having previously drilled 22 unsuccessful exploratory wells, Pemex discovered commercial volumes of oil in the Trion ...
$3,720
