Insight
The biggest lease sale in history of GoM may be one of the smallest
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The US Department of the Interior has billed upcoming lease sale 250 as the largest in history based on acreage offered. Lease sale 250 will offer 1.4 million acres more than previous sale. Despite larger acreage offered, we expect participation levels only slightly higher than previous lease sale 249. Newly available acreage will not influence bidding activity because it offers limited value. Bidding activity is expected to be intense in blocks close to infrastructure, Jurassic discoveries, and the recent Whale discovery in Western GoM. Majors, Independents and private equity-backed players with existing positions will likely bid again using previous strategies.
Table of contents
- The opening bid
- Newacreage offers limited value
- But Jurassic gets another look
- And Whale could get even bigger
-
Incumbents continue with business as usual
- Shelf players may test deep waters
Tables and charts
This report includes the following images and tables:
- Seismic activity on newly offered blocks
- Unleased blocks near Jurassic discoveries
- Wester GOM discoveries and unleased blocks
- Fiscal benchmarking using government share and company IRR
- Improved value with changes to fiscal terms
What's included
This report contains:
