The US Gulf of Mexico Central Lease Sale 241 was held on 23 March 2016 and attracted 148 bids from 26 companies, with high bids totalling US$156 million. The number of participants and total spend declined for the fourth consecutive year. High bids declined by 71% from the previous Central Lease Sale.The majority of bidding occurred in Mississippi Canyon, where extensive in-place infrastructure could reduce development costs at new fields. Similar to last year, 90% of bids were uncontested, resulting in an average bid per deepwater block of just US$1.3 million. Approximately half of bids were not much higher than the minimum acceptable bid of $576,000 per block.Despite these declines, remote regions were not completely ignored, indicating that the industry still believes that frontier plays can generate positive economics.