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
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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:
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Lease Sale 254 summaryMost recent Lease Sales (2017 - 2020)Central Gulf of Mexico bid results
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Western Gulf of Mexico bid resultsTop 10 companies by high bids in deepwaterMost recent lease sales (2018-2020)
What's included
This report contains:
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