auction

More than 30 oil and gas companies took part in the licensing round, which focused on mature areas that can be developed using existing infrastructure.

The US Bureau of Land Management’s August auction will be the first since March.

Lease Sale 256 was originally set for August but was moved due to COVID-19’s impact on the oil and gas markets. Bids will be accepted by mail only due to the ongoing pandemic.

Mississippi land no longer up for grabs, as the fed continues to postpone or cancel the sale of public parcels.

Oil and gas operators played it safe in the latest offshore auction by placing about half the high bids typically made. As a result, the total dollar commitment for the round was the lowest since 2017.

The Caribbean nation hopes the auction will lead to at least two exploration projects in a region that has become increasingly attractive thanks to new discoveries and investments made in neighboring countries.

A major offshore discovery led by Talos Energy is the first successful wildcat well drilled by a private company in Mexico in almost 80 years and a milestone for the country’s recently enacted energy reform.

The upstream sector for Mexico’s offshore oil and gas fields continues to diversify after its most recent tender.

An auction of small discoveries that were passed over by India’s national oil companies is a test of the country’s efforts to boost oil and gas development by encouraging participation from inside and outside this energy-hungry country.

The deepwater blocks Mexico plans to lease to international operators in December are among the deepest, most remote, and geologically challenging in the world. But the difficulties of developing these areas will start onshore, where adequate and secure port facilities are few and far between.