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Lease Sale BBG2
March 11, 2026
Gulf of Mexico Lease Sale BBG2 was held in New Orleans on March 11, 2026. Sale BBG2, just completed, resulted in 38 bids, by 13 companies, on 25 tracts, for a total of $69,838,782. The total sum of apparent winning bids was $46,976,423, on approximately 141 thousand acres. The last sale in 2025, Sale BBG1 resulted in 219 bids, by 30 companies, on 181 tracts, for a total of $371,881,093. The total sum of apparent winning bids was $300,425,222, on approximately 1.02 million acres.
The big players, in terms of number of tracts bid on, are:
- Anadarko US Offshore LLC - 9 bids
- BP Exploration & Production Inc. - 5 bids
- Chevron U.S.A. Inc. - 5 bids
- Shell Offshore Inc. - 5 bids
- Woodside Energy (Deepwater) Inc. - 5 bids
- LLOG Exploration Offshore, L.L.C. - 5 bids
- Houston Energy, L.P. - 5 bids
In terms of total amount exposed, we have:
- BP Exploration & Production Inc. - $25.8 million
- Chevron U.S.A. Inc. - $13.2 million
- Shell Offshore Inc. - $9.7 million
- Woodside Energy (Deepwater) Inc. - $8.5 million
- Anadarko US Offshore LLC - $6.9 million
In terms of total amount of high bids, we have:
- BP Exploration & Production Inc. - $22.6 million
- Chevron U.S.A. Inc. - $11.5 million
- Anadarko US Offshore LLC - $4.0 million
- LLOG Exploration Offshore, L.L.C. - $2.2 million
- Shell Offshore Inc. - $1.9 milion