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Lease Sale 254

March 18, 2020

Gulf of Mexico Lease Sale 254 was held in New Orleans on March 18, 2020. Sale 254, just completed, resulted in 84 bids, by 22 companies, on 71 tracts, for a total of $108,587,185. The total sum of apparent winning bids was $93,083,453, on approximately 0.4 million acres.  The last March sale in 2019, Sale 252 resulted in 257 bids, by 30 companies, on 227 tracts, for a total of $283,782,480. The total sum of apparent winning bids was $244,299,344, on approximately 1.3 million acres.

 

The big players, in terms of number of tracts bid on, are:

  • BP Exploration & Production Inc. - 21 bids
  • Chevron U.S.A. Inc. - 16 bids
  • Shell Offshore Inc. - 12 bids
  • BHP Billiton Petroleum (Deepwater) Inc. - 6 bids
  • Talos Energy Offshore LLC - 6 bids

In terms of total amount exposed, we have:

  • Shell Offshore Inc. - $27.4 million
  • Chevron U.S.A. Inc. - $25.4 million
  • BHP Billiton Petroleum (Deepwater) Inc. - $19.99 million
  • BP Exploration & Production Inc. - $14.98 million
  • EnVen Energy Ventures, LLC - $3.97 milion

In terms of total amount of high bids, we have:

  • Chevron U.S.A. Inc. - $24.7 million
  • BHP Billiton Petroleum (Deepwater) Inc. - $19.99 million
  • Shell Offshore Inc. - $18.5 million
  • BP Exploration & Production Inc. - $10.4 million
  • EnVen Energy Ventures, LLC - $3.97 milion