Monthly eNewsletter from the IADC

August GOM Lease Sale Yields More than $159 Million in Bids

The US Department of Interior’s region-wide Gulf of Mexico (GOM) Lease Sale 253, held on 21 August, generated bids in excess of $159 million for 151 tracts covering 835,006 acres in federal waters of the GOM. A total of 27 companies participated in the lease sale, submitting $174,922,200 in all bids.

Lease Sale 253 included 14,585 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. Lease Sale 253 was the fifth offshore sale held under the 2017-2022 National Outer Continental Shelf Oil and Gas Leasing Program.

More information about the sale, can be found at the Bureau of Ocean Energy Management’s website.