Insight
US Gulf of Mexico Lease Sale 254: companies quarantine disposable cash
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The US Gulf of Mexico Lease Sale 254 was held on 18 March 2020 and received 84 bids from 22 companies. The total high bid amount decreased by 42% to US$93.1 million, compared to the August 2019 lease sale. However, the average dollar bid per deepwater acre increased to US$240/acre, the highest since 2017. In this Insight, we discuss key trends observed in the lease sale and the effect the recent drop in oil price had on bidding activity.
Table of contents
- Executive summary
-
Sales analysis
- Company budgets have caught the bug
- Independents and privates self-quarantine
- Majorsdominate in a muted lease sale
- Conclusion
Tables and charts
This report includes the following images and tables:
- Lease Sale 254 summary
- Most recent Lease Sales (2017 - 2020)
- Central Gulf of Mexico bid results
- Western Gulf of Mexico bid results
- Top 10 companies by high bids in deepwater
- Most recent lease sales (2018-2020)
What's included
This report contains:
Other reports you may be interested in
Asset Report
Macaroni (GB 602)
Macaroni (GB 602) is a small oil and associated gas field located in the Garden Banks protraction area of the Central Gulf of Mexico, ...
$3,720
Asset Report
Facility - Delta House
The Delta House FPS is a semi-submersible production facility located in the Mississippi Canyon protraction area of the Central Gulf of ...
$2,580
Asset Report
Power Play (GB 302)
Power Play is a small oil and gas field located in the northeastern corner of the Garden Banks protraction area in the Central Gulf of ...
$3,720
