US $ 191,000,000 bids filed by Companies on Lease Sale 257

Published:
November 30, 2021
pexels photo 3192662

The Bureau of Ocean Energy Management in the United States said that trading floor 257, located in the Gulf of Mexico, has already received 317 claim messages, which were, in particular, sent from 33 firms. Applications were received for 308 blocks out of the total proposed 15 148. As a result of the receipt of these applications, their total amount amounted to about $ 191.7 million. The sale was completed on November 17th. This event took place in New Orleans.

A total of 136 applications were submitted for blocks located at depths from 0 to 200 meters. However, the largest number of applications was filed specifically for blocks located in shallow water. The largest bids, amounting to $ 99 million, were placed on blocks located at depths ranging from 800 to 1600 meters. The deepest depth for the block, which also received an application, was Lloyd Ridge 457, located at about 3,100 meters.

The total amount of $ 47 million – the largest amount on applications – was submitted by Chevron USA Inc. This amount covers 34 applications. In second place was Anadarko US Offshore LLC, which posted $ 39 million from 30 applications.

The highest bids came from Exxon Mobil Corp – first place with a total of $ 14.9 million out of 94 bids combined. The second place was taken by BP Exploration & Production Inc., which showed 46 high offers with a total amount of $ 29 million. In third place was Chevron USA Inc. – 34 high stakes for a total of 47 million.

The highest bid was from Anadarko US Offshore LLC. This firm turned its attention to Block 259, located within the Alaminos Canyon and having a depth of 800-1600 meters. The enterprise offered $ 10 million for this block. In addition, this order is in the second largest place in the category of one-time sell orders.

Chevron USA Inc. Also included in the list of firms with the highest rating and offered the highest price – $ 4,400,000 for Block 40, which is located in a canyon in the Mississippi.

Lease Sale 257 includes about 15,200 blocks that are not leased. The blocks are located in the central, western and eastern zones in the Persian Gulf. It is approximately 3-231 miles from the coastline, which is also at a depth of about 115 feet.

These transactions represented 8 offshore sales made under the program of the US Department of Energy, which is responsible for operations on the outer continental loop. The program is designed for 2017-2022 and, in total, provides for the implementation of 10 sales transactions.

OCS, located within the Gulf of Mexico, covers an area of ​​160 million acres, including about 48 billion barrels of technically recoverable oil. In addition, there are also 141 trillion cubic feet of gas that can be technically extracted.

BOEM includes in the lease terms a commitment to protect biologically sensitive resources, to mitigate as much as possible potential negative impacts on protected species, and to prevent potential conflicts between gas and oil exploitation procedures and users of other resources in the Gulf of Mexico.

The financial terms also include a royalty rate of 12.5% ​​for leases less than 200 meters deep. For other leases, the royalty rate will be 18.75%.

You can also consider the following offers of ready businesses for sale in the category “Oil&Gas project”.

ELI Deal service specialists will kindly help you to clarify all the terms of the transaction and choose the best option in order to start running the most profitable business.

Related insights

What is important to know when buying Property in Turkey?

Whether you’re considering purchasing a holiday home, an investment in property, or relocating permanently, buying real estate in Turkey can be a rewarding venture. However, like any possessions purchase, it requires careful consideration and research to ensure a smooth transaction and avoid potential pitfalls. In this guide, we’ll explore the key factors to keep in…

Read more 21.03.2024

Top 6 Promising Countries for Real Estate Investment in 2024

In the dynamic world of Investment in Real estate, identifying promising terminus is essential for maximizing returns and mitigating risks. As we navigate through 2024, several states stand out as hotspots for real-estate funding, offering lucrative possibilities and favorable field conditions. From emerging fields to established hubs, investors are eyeing these top six states for…

Read more 14.03.2024

Forex dealer license in Samoa

Admission to foreign-sourced currencies deals is granted to those financially-set establishments, monetary transfer operators and exchange-offices officially-licensed by local regulative authorities – Central Banking facility. Possession of such a permit grants  rights to spread currencies exchanging services for capital-holders and corporate clients.  Possibilities and privileges of Forex-business in Samoa Conducting brokerage-activities on FX-platforms provides stable…

Read more 26.02.2024

Fund in Luxembourg

Because of its privileged location in central part of Europe and widely-extensive expertise in field of financial tools and mechanisms, this duchy remains in demand among entrepreneurs wishing to establish funding structures locally. Commonly-choosing status of the center in EU and second most-considered essential on global level after USA is because of well-developed regulative basis;…

Read more 26.02.2024

Forex Dealer License in Solomon Islands

In a rapidly-evolving financial environment, forex-markets are a rather complex and dynamic space. For those seeking to launch a brokerage firm in this country, getting foreign exchange dealer license is mandatory in accordance with local national laws. Forex trading legal in Solomon Islands: preparation for operation Getting money changer license starts directly with officially-approved registration…

Read more 26.02.2024

Crypto regulation in South Africa

Jurisdiction is quite welcoming and supportive of cryptoassets and promotes their active implementation in local market-spaces. Regulative framework-basis for crypto-sphere is quite ambiguous, nevertheless, any activities in crypto-market are covered by strict control. Country doesn’t set a single law governing crypto-currencies, but there’re a plenty of different normative acts applying to this niche, incl. Exchange…

Read more 26.02.2024

MSB license in Dubai

Dubai International Financial Center is rapidly becoming recognized as a premier hub for MEASA. According to the Global Index, published in March 2023, Dubai occupies a leading position among financial centers in the region. Over the past five years, Dubai has consistently maintained its high position worldwide, specifically for capital-holders wishing to enter financial services…

Read more 29.01.2024

Crowdfunding in Portugal

Such schemes in Portugal continue to expand. Country’s regulator has registered six management companies operating crowdfunding resources, predominantly in area of lending. As industry develops and the number of participants grows, changes are possible due to the adoption of the Regulation on European agents providing crowdfunding services for business-projects. There may also be a move…

Read more 24.01.2024

How to begin a Cook Islands Trust in 2023

In the realm of multinational affluence governance and acquisition safety, trust-companies have long been regarded as powerful tools for safeguarding purchases and ensuring monetary privacy. The Cook Islands, nestled in the heart of the South Pacific, has emerged as a jurisdiction of choice for establishing trust-companies due to its robust lawful substructure and favorable adjustments….

Read more 22.12.2023

Investment fund in UAE

The United Arab Emirates (UAE) has emerged as a global monetary powerhouse, renowned for its dynamic enterprise circumstances, strategic location, and depositor-friendly policies. One of the key drivers of the UAE’s monetary success is its robust acquisition landscape, which includes a diverse range of possibilities for local and global depositors. In this article, we will…

Read more 19.12.2023

Forex License in Estonia

In recent years, Estonia has emerged as a favorable destination for enterprises seeking to establish themselves in the European Union. The country’s progressive adjustment circumstances, digital infrastructure, and business-friendly policies have attracted a diverse range of industries, including the economic sector. Among the economic favors gaining traction is the FX(foreign exchange) industry, and many entrepreneurs…

Read more 15.12.2023

ESMA urges crypto-market contributors to begin conditioning for the transition to the MiCA adjustment

The world of cryptos is evolving rapidly, and adjustment bodies are striving to keep pace with this dynamic landscape. The Euro Securities and Markets Body (ESMA) has recently issued a clarion call to all cryptomarket contributors, urging them to start gearing up for the transition to the Markets in Crypto Acquisitions (MiCA) adjustment. As the…

Read more 12.12.2023