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Gulf of Mexico offshore lease brings $178 million

Staff Writer | August 16, 2018
Deputy Secretary of the Interior David Bernhardt announced that region-wide Gulf of Mexico Lease Sale 251 generated $178,069,406 in high bids for 144 tracts covering 801,288 acres in federal waters of the Gulf of Mexico.
Gulf of Mexico offshore lease
America   29 companies participated in the lease sale
A total of 29 companies participated in the lease sale, submitting $202,667,923 in bids.

Lease Sale 251, livestreamed from New Orleans, was the third offshore sale held under the 2017-2022 Outer Continental Shelf Oil and Gas Leasing Program (2017-2022 OCS Program).

Under this program, 10 region-wide lease sales are scheduled for the Gulf, where resource potential and industry interest are high, and oil and gas infrastructure is well established. Two Gulf lease sales will be held each year and include all available blocks in the combined Western, Central, and Eastern Gulf of Mexico Planning Areas.

Lease Sale 251 included 14,622 unleased blocks, located from three to 231 miles offshore, in the Gulf’s Western, Central and Eastern Planning Areas in water depths ranging from nine to more than 11,115 feet (three to 3,400 meters).

Excluded from the lease sale are: (1) blocks subject to the congressional moratorium established by the Gulf of Mexico Energy Security Act of 2006; (2) blocks that are adjacent to or beyond the U.S. Exclusive Economic Zone in the area known as the northern portion of the Eastern Gap; and (3) whole blocks and partial blocks within the boundaries of the Flower Garden Banks National Marine Sanctuary.


 

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