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 statement: “Our mission is to create value for the Southern Ute Indian Tribe by exploring for and developing oil and gas resources while prioritizing safety, fiscal responsibility and respect for the environment and Tribal Cultural resources.”
Otto Energy was high bidder on 1 block. If you wonder about the company name, Otto Energy was known as Ottoman Energy until 2006. Otto’s vision is to achieve outstanding business delivery as a partner of choice in the Gulf of Mexico. Their production base includes the South Marsh Island Block 71 field and interest in the Green Canyon 21 Bulleit field.
DG Exploration focuses on new play concepts for the mature continental shelf of the US Gulf of Mexico. They were the high bidder on 14 blocks. According to DG, these blocks control 5 of the best prospects in their portfolio. All the blocks are located in a prolific part of the basin where new high potential exploration has been absent since the early 1990s. By bringing in new technology and ideas, they aim to fundamentally reset the creaming curve for the Louisiana shelf.
Juneau Oil and Gas was high bidder on 4 blocks. Juneau was formed to focus a world class team of professionals on exploring the shallow waters of the Gulf of Mexico. Juneau Oil & Gas has returned to the roots of the founding members’ past success at an opportune and strategic time in the ever-evolving oil and gas industry. Juneau correctly notes that “lease acquisition costs and royalty rates in the shallow water Gulf of Mexico are low relative to other basins, and there has been little competition for these leases after the steep and sustained decline in activity over the past decade.”
Focus Exploration LLC was high bidder on 7 blocks. Like other GoM shelf companies, Focus’ principals created the company with the purpose of identifying and participating in high quality, low to moderate risk oil and gas projects.
CSL Exploration LP was high bidder on 1 block. CSL Capital Management, L.P. is an SEC registered investment firm focused on energy services and equipment businesses. Headquartered in Houston, the CSL team has deep sector expertise in the energy industry and takes a hands-on approach to investments, relying on organic growth and strategic thinking to generate investment success.
Blackcomb Energy LLC was the high bidder on 1 block. Information on this company is limited, but it looks like they have onshore production in Colorado.
Bud's Offshore Energy (BOE) 