Insight
Gulf of Mexico Western Lease Sale 238: US-Mexico border drives bidding
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Operators placed 81 high bids totalling US$110 million at the US Gulf of Mexico Western Lease (WLS) 238. 33 high bids were placed in deepwater along the US-Mexico maritime border, totalling US$35.7 million. There were only four operators with high bids exceeding US$20 million: Chevron spent US$25.8 million on five blocks, ConocoPhillips bid US$23.4 million on 10 blocks, BP bid US$22.8 million on 27 and BHP had 14 high bids, four outbidding BP, totalling US$21.9 million.
Table of contents
-
A third of deepwater high bid value along the US-Mexico border
- Deepwater high bid value continues to decrease for third sale in a row
- Existing players maintain interest in the Shelf
Tables and charts
This report includes the following images and tables:
-
Comparison of previous Western Lease SalesHigh bids by operator - Shelf and deepwaterShelf bids and bonuses by saleApparent high bids by block Western Lease Sale 238
What's included
This report contains:
Other reports you may be interested in
Insight
US upstream week in brief: Q2 2026 archive
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
East Breaks 599
East Breaks 599 is an oil and gas development located in the East Breaks protraction area of the Western Gulf of Mexico. It consists ...
$3,720
Asset Report
Woodside Louisiana LNG Phase 2
Woodside Louisiana LNG is a planned, four-phase 27.5 mmtpa greenfield LNG development located in southwest Louisiana.
$2,700
