14 of the high bids at Gulf of Mexico Lease Sale 259 were rejected. Did those tracts receive bids at sale 261? What was the net gain or loss of revenue? See the summary bullets and table below
- 6 of the 14 tracts received no bids whatsoever
- 5 of the 14 tracts received higher bids that were accepted.
- 2 tracts received substantially higher bids that were again rejected
- 1 tract received a lower bid that was accepted
- net bonus revenue gain to the govt from the bid rejections (pending re-offering at future sales): $1,032,877
- net bonus revenue gain = 0.27% of the total high bids at sale 261
- net loss in future rental and royalty payments: ????
For a net bonus revenue gain to date of only 1/4 of one per cent, 8 of the 14 sale 259 tracts with rejected high bids remain closed to exploration. The timing of any future sales is very much in doubt given the minimalist 5 year leasing plan and the associated legal challenges.
Current bid evaluation practices only make sense if regular lease sales are held on a predictable schedule, as has historically been the case.
Meanwhile, 100% of the improper CCS bids (199/199) were accepted at the last 3 oil and gas lease sales.
| area and block | Sale 259 rejected high bid – company | Sale 261 high bid | bid accepted | govt gain (loss*) |
| DC 622 | 2,101,836 – Shell | 615,628 – Shell | yes | (1,486,208) |
| GC 173 | 307,107 – Woodside | no bid | NA | (307,107) |
| GC 547 | 1,783,498 – Chevron | no bid | NA | (1,783,498) |
| GC 591 | 1,291,993 – Chevron | no bid | NA | (1,291,993) |
| GC 642 | 605,505 – Anadarko | no bid | NA | (605,505) |
| GC 777 | 583,103 – bp | no bid | NA | (583,103) |
| AT 5 | 1,551,130 – Anadarko | 5,215,628 – Shell | yes | 3,664,498 |
| AT 133 | 607,107 – Woodside | no bid | NA | (607,107) |
| KC 745 | 707,777 – Beacon | 2,422,222 – Beacon | no | (2,422,222) |
| KC 789 | 707,777 – Beacon | 2,143,299 – Beacon | no | (2,143,299) |
| WR 794 | 724,744 – Beacon | 1,487,624 – Beacon | yes | 762,880 |
| WR 795 | 774,242 – Beacon | 5,301,107 – Woodside | yes | 4,526,865 |
| WR 796 | 774,242 – Beacon | 3,310,107 – Woodside | yes | 2,535,865 |
| WR 750 | 724,744 – Beacon | 1,498,555 – Beacon | yes | 773,811 |
| total govt. gain | 1,032,877 |
Bud's Offshore Energy (BOE) 