auction
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The operator was the successful bidder on former shallow-water assets of Cox Oil, Energy XXI, and others. -
The infrastructure company placed the winning high bid in a bankruptcy auction.
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Total number of applicants down for latest Barents Sea frontier licensing round.
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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.
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The US Bureau of Land Management’s August auction will be the first since March.
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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.
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Mississippi land no longer up for grabs, as the fed continues to postpone or cancel the sale of public parcels.
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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.
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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.
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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.
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