The sale was beautifully conducted by BOEM, and Leslie Beyer – Assistant Secretary for Land and Minerals Management, Dept of the Interior – and Matt Giacona, Acting BOEM Director, delivered strong messages in support of the OCS oil and gas program.
However, as a colleague commented just after the sale, it was beautiful but not big. He and I expected more given the time since the last sale and the attractive terms.
Below is a comparison with the previous 3 Gulf sales. More to follow.
| Sale No. | 257 | 259 | 261 | BBG1 |
| date | 11/17/2021 | 3/29/2023 | 12/20/2023 | 12/10/2025 |
| companies participating | 33 | 32 | 26 | 30 |
| total bids | 2233 | 2842 | 3161 | 219 |
| tracts receiving bids | 2143 | 2442 | 2751 | 181 |
| sum of all bids $millions | 198.5 | 309.8 | 441.9 | 371.9 |
| sum of high bids ($millions) | 101.7 | 263.8 | 382.2 | 279.4 |
| highest bid company block | $10,001,252.00 Anadarko AC 259 | $15,911,947 Chevron KC 96 | $25,500,085 Anadarko MC 389 | $18,592,086 Chevron KC 25 |
| most high bids company sum ($millions) | 46 bp 29.0 | 75 Chevron 108.0 | 65 Shell 69.0 | 50 bp 61.0 |
| sum of high bids ($millions) company | 47.1 Chevron | 108 Chevron | 88.3 Hess | 61.0 bp |
| most high bids by independent | 14-DG Expl. | 13-Beacon 13-Red Willow | 22-Red Willow | 14-Murphy |
1excludes 36 leases improperly acquired for carbon disposal purposes; 2excludes 69 leases improperly acquired for carbon disposal purposes; 3excludes 94 leases improperly acquired for carbon disposal purposes
Bud's Offshore Energy (BOE) 