lease sale
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Twenty-six companies participated in what was the last GOM lease sale scheduled until 2025. -
The Biden administration postpones Sale 261 while awaiting court ruling.
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The Biden Administration plans for a maximum of three lease sales in the Gulf of Mexico from 2024 to 2029.
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The lease area has the potential to support enough offshore wind power to run more than 1 million homes.
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The acreage comprises 10 leases covering approximately 25,430 contiguous acres.
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Ministry takes to Twitter to reveal new oil concession round coming soon.
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Controversial Sale 259 was conducted as mandated by the Inflation Reduction Act of 2022.
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Rights to five lease tracts offshore California have been awarded to five separate operators.
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By 2030, deepwater production is expected to rise 60%, but after that, reduced leasing and exploration could limit this small slice of the sector.
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The sale had 307 valid high bids worth more than $190 million.
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