Lease Sale BBG1
December 10, 2025
Gulf of Mexico Lease Sale BBG1 was held in New Orleans on December 10, 2025. Sale BBG1, just completed, 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 last sale in 2023, Sale 261 resulted in 352 bids, by 26 companies, on 311 tracts, for a total of $441,896,332. The total sum of apparent winning bids was $382,168,507, on approximately 1.7 million acres.
The big players, in terms of number of tracts bid on, are:
- BP Exploration & Production Inc. - 58 bids
- Chevron U.S.A. Inc. - 31 bids
- Shell Offshore Inc. - 18 bids
- Murphy Exploration & Production Company - 15 bids
- Anadarko US Offshore LLC - 15 bids
- LLOG Exploration Offshore, L.L.C. - 15 bids
In terms of total amount exposed, we have:
- BP Exploration & Production Inc. - $90.6 million
- Chevron U.S.A. Inc. - $65.6 million
- Woodside Energy (Deepwater) Inc. - $40.0 million
- Murphy Exploration & Production Company - $28.0 million
- Shell Offshore Inc. - $23.1 million
In terms of total amount of high bids, we have:
- BP Exploration & Production Inc. - $61.9 million
- Chevron U.S.A. Inc. - $53.1 million
- Woodside Energy (Deepwater) Inc. - $38.1 million
- Murphy Exploration & Production Company - $27.4 million
- Beacon Offshore Energy Exploration LLC - $20.1 milion