lease sale
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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. -
The sale had 307 valid high bids worth more than $190 million.
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The three US lease auctions were the last planned under the current 5-year federal leasing plan.
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The US BOEM will hold its second offshore wind energy auction in May and promises more will follow.
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The industry group called the decision by the court “misguided” and said it will result in significant uncertainty for Gulf of Mexico producers
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A federal judge tossed out the results of Sale 257, held last November, because of what it said was the government’s underestimation of the potential effect on the environment.
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The auction was held as the result of a US district court order issued in June that overruled the Biden administration's attempt to suspend lease sales.
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The country’s 17th Bidding Round attracted bids on just five of the 92 blocks on offer… and all from Shell.
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Last year’s GOM auction received high bids on just 93 blocks. Higher oil prices could attract bidders back to the planned lease sale.
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The Biden administration has appealed a district court decision to restart oil and gas leasing programs in the US.
