Investment reaches historic lows at US Gulf of Mexico Central Lease Sale 241

This report is currently unavailable

This report is currently unavailable

Get this Insight as part of a subscription

Enquire about subscriptions

Already have a subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.

Report summary

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.

What's included

This report contains

  • Document

    Investment reaches historic lows at US Gulf of Mexico Central Lease Sale 241

    PDF 385.10 KB

Table of contents

  • Executive summary
  • Mississippi Canyon stands out
  • Sale results show some optimism for frontier prospects, but overall spend dwindles
  • Private companies expand their footprint in deepwater
  • Shelf is targeted by private operators

Tables and charts

This report includes 5 images and tables including:


  • Central Lease Sale 241 Summary
  • Three most recent Central Lease Sales (2014-2016)


  • Top 10 companies by high bids in deepwater
  • Shelf bids and bonuses by lease sale (2008-2016)
  • Apparent high bidders by block in CLS 241

Questions about this report?

  • Europe:
    +44 131 243 4699
  • Americas:
    +1 713 470 1900
  • Asia Pacific:
    +61 2 8224 8898