That would appear to be the case now that the US Court of Appeals for DC dismissed litigation challenging the sale. Meanwhile, challenges to Cook Inlet Sale 258 (humble as it was with only one bid) and GoM Sale 259 continue. It’s a great country (if you like endless litigation)! In addition to Lease Sale […]
Search Results for 'sale 257'
Lease sale 257 challenges finally over?
Posted in Alaska, Gulf of Mexico, Offshore Energy - General, tagged Cook Inlet, Gulf of Mexico, Lease Sale 257, Lease Sale 258, Lease Sale 259, litigation on May 5, 2023| Leave a Comment »
Would BOEM’s new bid adequacy procedures have changed the outcome of Sale 257 or prior lease sales?
Posted in energy policy, Gulf of Mexico, Offshore Energy - General, Regulation, tagged bid adequacy procedures, BOEM, Lease Sale 257 on February 28, 2023| Leave a Comment »
BOEM’s new procedures, which have been published for public comment, seem reasonable. However, it would be helpful to learn more about the testing of the new methodology. (See the quote below). Further, would the rejected Sale 257 bid have been accepted? What was the LBCI for that tract? Would any accepted Sale 257 bids have […]
Bid rejection and lingering Lease Sale 257 mysteries
Posted in CCS, energy policy, Gulf of Mexico, Offshore Energy - General, tagged BHP, BOEM, bp, carbon sequestration, Chevron, Exxon, Lease Sale 257, Lease Sale 259, rejected bid, Talos on February 27, 2023| Leave a Comment »
BOEM published their Sale 257 Decision Matrix on Friday (2/24/2023), and my previous speculation regarding the rejected Sale 257 high bid has proven to be partially incorrect. The rejected high bid was submitted by BP and Talos and was for Green Canyon Block 777. BOEM’s analytics assigned a Mean of the Range-of-Value (MROV) of $4.4 […]
Which Sale 257 bid was rejected?
Posted in CCS, Gulf of Mexico, Offshore Energy - General, tagged BHP, CCS, Gulf of Mexico, Lease Sale 257, rejected bid on November 21, 2022| Leave a Comment »
On September 14, 2022, BOEM announced that 307 high bids from Lease Sale 257 in the Gulf of Mexico were accepted. BOEM also announced that one high bid was rejected for not providing the public with fair market value. BOEM has not identified the rejected bid. Per BOEM’s Lease Area Block Online Query file, 306 Sale 257 […]
Now that the Sale 257 leases have been issued, questions remain
Posted in energy policy, Gulf of Mexico, Offshore Energy - General, tagged BOEM, CCS, Exxon, Lease Sale 257 on September 22, 2022| Leave a Comment »
Which bid was rejected? BOEM announced that 307 of the 308 high bids were accepted. One bid was rejected on fair market value grounds. The unsuccessful bid is not specified on the Sale 257 web page. When can we expect a statement from Exxon on their intentions for the 94 blocks they acquired? Those 94 […]
Excerpt from BOEM note on Sale 257
Posted in energy policy, Gulf of Mexico, Offshore Energy - General, tagged BOEM, CCS, FMV, Lease Sale 257 on September 14, 2022| Leave a Comment »
Pursuant to section 50264(b) of the Inflation Reduction Act of 2022 (Pub. L. No. 117-169), Congress has directed BOEM to award leases to the highest valid bidders in Lease Sale 257, which was held on November 17, 2021. Consistent with this direction, BOEM has accepted 307 of the highest valid bids, totaling $189,888,271. A total […]
BOEM awarded Sale 257 leases today…
Posted in energy policy, Gulf of Mexico, Offshore Energy - General, tagged BOEM, Lease Sale 257 on September 14, 2022| Leave a Comment »
A full day ahead of the deadline! Waiting for an announcement and details.
Refreshing wisdom from Sale 257 bidders
Posted in Gulf of Mexico, Offshore Energy - General, tagged Blackcomb Energy, CSL Exploration, DG Exploration, Focus Exploration, Juneau Oil and Gas, Lease Sale 257, Otto Energy, Red Willow on September 14, 2022| Leave a Comment »
Some of the lesser known Sale 257 bidders are intriguing. These companies have a clear and refreshing sense of identity and mission. Observations: Red Willow Offshore LLC, high bidder on 5 blocks, is a private oil and gas exploration and production company owned by the Southern Ute tribe and headquartered in Ignacio, Colorado. Great mission […]
Sale 257 bidders waiting for their leases
Posted in energy policy, Gulf of Mexico, Offshore Energy - General, tagged high bidders, Lease Sale 257 on September 13, 2022| Leave a Comment »
Per legislation signed by the President on 8/16/2022, Sale 257 oil and gas leases are to be issued this week. Below is a list of the high bidders. (The carbon sequestration bids are not believed to be valid and are not included in this list.) Note the number of smaller and relatively unknown companies that […]
Action by DOI on Lease Sale 257 required in 15 days
Posted in CCS, climate, energy policy, Gulf of Mexico, Offshore Energy - General, tagged CCS, fair market value, Inflation Reduction Act, Lease Sale 257 on August 31, 2022| Leave a Comment »
Per legislation signed by the President on Aug. 16, 2022: (b) LEASE SALE 257 REINSTATEMENT.—(1) ACCEPTANCE OF BIDS.—Not later 30 days after the date of enactment of this Act, the Secretary shall, without modification or delay—(A) accept the highest valid bid for each tract or bidding unit of Lease Sale 257 for which a valid […]
Bud's Offshore Energy (BOE) 