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Posts Tagged ‘oil and gas lease sale’

Nice NPRA lease sale

Posted in Alaska, energy, tagged , , , , , , , , on March 20, 2026| Leave a Comment »

Not offshore, but close😉 Fond memories of my stay at NPRA many years ago.

Strong participation; nice mix of big dogs – Exxon, Shell, ConocoPhillips (CPAI), and Repsol – and independents.

Stats – 3/18/2026 NPRA lease sale:

  • Tracts offered: 625
  • Tracts receiving bids: 187
  • Sum of high bids: $ 163,696,722.2
  • Highest bid: $ 3,649,920.00 by Epoch Resources
  • Companies participating: 11
  • Total bids: 430
CompanyHigh Bids
North Slope Exploration78
Shell/Repsol (joint bids)42
CPAI30
Exxon24
Epoch8
Peritas2
Beacon1
Oil Search1
SE Partners1

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Will bearish oil price forecasts constrain bidding at Gulf lease sale?

Posted in energy policy, Gulf of Mexico, Offshore Energy - General, tagged , , , , , on November 26, 2025| Leave a Comment »

One Big Beautiful Gulf of America

In JPMorgan’s view, the stage is set for a potential decline of as much as 50% in oil prices through the end of 2027, taking Brent crude down to the low $30s per barrel range from its current level of around $63.50.

Will bearish forecasts by JPMorgan and others temper bidding at the highly anticipated, and long awaited, Gulf lease sale to be held on 12/10/2025? Probably not for these reasons:

  • This will be the first lease sale in 2 years.
  • The terms are very attractive.
  • Given the longer term nature of deepwater development, production will not begin for years following lease issuance. Note that anticipated first production for 3 new high-pressure deepwater projects, Kaskida, Sparta, and Tiber, will be 23, 16, and 21 years after the field discovery dates.
  • To the extent that price forecasts are reliable at all (see no. 9 in the image below), the degree of uncertainty for longer term forecasts is particularly high.
  • The sale has to live up to its name Big Beautiful Gulf 1 (BBG1). 😉

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Interior Secretary Burgum directs BOEM to hold first Gulf of America oil and gas lease sale by end of year

Posted in energy policy, Gulf of Mexico, Offshore Energy - General, tagged , , , , , on April 4, 2025| Leave a Comment »

The announcement was during an interview this morning (4/4/2025) with Lawrence Jones on Fox News, and is consistent with expectations and the current 5 year leasing plan.

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