Insight

Gulf of Mexico Lease Sale 253: capital discipline is the name of the game

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The US Gulf of Mexico Lease Sale 253 was held on 21 August 2019 and received 165 bids from 27 companies. The total high bid amount decreased by 35% to US$159.4 million, compared to the March 2019 lease sale. However, the combined high bid amount for both region-wide 2019 lease sales is US$403.6 million, the highest since 2015. In this Insight, we discuss key trends observed in the lease sale and potential reasons for the decline in bidding activity.

Table of contents

  • Executive summary
    • Low cost of entry
    • Independents pack a punch
    • ILX games
    • The shelf stays shallow
    • Conclusion

Tables and charts

This report includes the following images and tables:

  • Lease Sale 253 summary
  • Five most recent Lease Sales (2017 - 2019)
  • Central Gulf of Mexico bid results
  • Top 10 companies by high bids
  • Western Gulf of Mexico bid results
  • Five most recent Lease Sales (2017 - 2019)
  • Shelf bids and bonuses by lease sale (2013-2019)

What's included

This report contains:

  • Document

    GoM Lease Sale 253 Graphs and Table.xlsx

    XLSX 128.35 KB

  • Document

    Gulf of Mexico Lease Sale 253: capital discipline is the name of the game

    PDF 5.72 MB