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Operators pull back spend at US GoM Western Lease Sale 246

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Report summary

Only five operators participated in the US Gulf of Mexico Western Lease (WLS) 246, placing 33 bids totalling US$22.7 million. This is the lowest number of bids in any Western Lease Sale since the first was held in 1983, as the long-term trend in declining interest in Western GoM was compounded by low oil prices. Spend averaged US$125/acre and US$26/acre for deepwater and Shelf respectively – half the per acre spend of the 2014 lease sale.

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  • Document

    Operators pull back spend at US GoM Western Lease Sale 246

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Table of contents

  • Operators pull back spend at US GoM Western Lease Sale 246

Tables and charts

This report includes 4 images and tables including:

Images

  • Shelf bids and bonuses by sale
  • Apparent high bidders by block in Western Lease Sale 246

Tables

  • Western Lease Sale 246 summary
  • Comparison of previous Western Lease Sales

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