Four of the eight tracts that were offered received bids. Only two companies participated, and the amounts were a fraction of the bids submitted for just two leases at the last Central Atlantic sale.
Posts Tagged ‘results’
Gulf of Maine wind lease sale results
Posted in Offshore Wind, tagged Avangrid, BOEM, Gulf of Maine, Invenergy, results, wind lease sale on October 29, 2024| Leave a Comment »
OCS Lease Sale 259: more unusual bidding by Exxon, otherwise an impressive sale
Posted in CCS, Gulf of Mexico, Offshore Energy - General, tagged BOEM, bp, Chevron, Exxon, Lease Sale 259, Liz Klein, Red Willow, results, Shell on March 29, 2023| Leave a Comment »
- 313 blocks receiving bids
- 353 bids
- 32 companies submitting bids
- High bids totaled $263.8 million
Exxon doubled down on their strategic CCS bidding; their only bids (69 in total) again appeared to be solely for carbon sequestration purposes. As previously noted, acquiring tracts for CCS purposes is not authorized in an oil and gas sale. Arguably, these bids should be rejected.
The other super-majors, BP, Chevron, and Shell, were active participants as were many independents.
It was good to see BOEM Director Liz Klein announcing bids. This shows respect for the OCS oil and gas program.
It was also good to hear that Red Willow, a native American corporation, was again an active participant.
More to follow.
Bud's Offshore Energy (BOE) 