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Message
First Gulf of America Lease Sale since 2023 nets $279 Million in Lease Bonuses
Posted on 12/10/25 at 2:52 pm
Posted on 12/10/25 at 2:52 pm
quote:
Winning bids to drill for oil and gas over millions of acres in the Gulf of Mexico totaled more than $279 million, the Interior Department said Wednesday.
The first oil and gas Gulf lease sale during President Donald Trump’s second term — and the first since 2023 — offered around 80 million acres of waters on the outer continental shelf to drilling companies.
The results amounted to about $103 million less in winning bids than the last sale during the Biden administration.
The Trump administration has pushed to open new areas of U.S. lands and waters to oil and gas production. Working with Republicans in Congress, the administration has begun to carry out oil and gas lease sales required under the Republican megalaw, which Trump signed in July.
LINK
quote:
Dec 10 (Reuters) - BP, Chevron and Shell were among the top winners on Wednesday at the U.S. government's first sale of oil and gas drilling rights in the Gulf of Mexico since 2023.
quote:
The sale generated about $100 million less in high bids than the last Gulf lease sale in 2023, but oil companies bid more per acre than at any government auction in the region since 2017, according to a Reuters analysis of the sale results.
LINK
6
Posted on 12/10/25 at 3:11 pm to ragincajun03
quote:
The results amounted to about $103 million less in winning bids than the last sale during the Biden administration.
while mathematically true, context matters here
Biden's sale = no one knew when the next sale was going to be
This sale = dec 2025, with another in March 2026 and another in August 2026
companies weren't running up snatching up properties as hastily for this sale.
Posted on 12/10/25 at 3:25 pm to ragincajun03
quote:
Winning bids to drill for oil and gas over millions of acres in the Gulf of Mexico
Politico spelled America wrong.
Posted on 12/10/25 at 3:30 pm to ragincajun03
quote:
Winning bids to drill for oil and gas over millions of acres in the Gulf of Mexico totaled more than $279 million, the Interior Department said Wednesday.
Posted on 12/10/25 at 5:02 pm to caliegeaux
quote:
Biden's sale = no one knew when the next sale was going to be
This sale = dec 2025, with another in March 2026 and another in August 2026
companies weren't running up snatching up properties as hastily for this sale.
No argument from me on that point. Some companies rushed to file federal permits right after the 2020 election results to at least get their applications in the que. Some rushed well before the 2020 election just in case.
Posted on 12/10/25 at 5:03 pm to TexasTiger89
Which is why I spelled it correctly in the thread title.
Posted on 12/10/25 at 5:15 pm to ragincajun03
Will Louisiana see any revenue from it?
Posted on 12/10/25 at 5:54 pm to ragincajun03
Do you honestly think the legal documents say ‘Gulf of America?’
Posted on 12/10/25 at 6:02 pm to Tigeralum2008
no Posted on 12/10/25 at 6:56 pm to Traffic Circle
Uhh - yes.
Posted on 12/10/25 at 9:23 pm to BuyloSellhi
quote:
Uhh - yes.
In 2040, when they finally get around to uncapping the exploratory well and turning it into a productive well.
This post was edited on 12/10/25 at 9:24 pm
Posted on 12/11/25 at 8:34 am to Traffic Circle
Well the revised April 2025 bid form/instructions reference “Gulf of America”.
LINK
The blanket oil & gas lease form, which was updated as of 2017, only makes reference to the OCS in the applicable clauses. Guess we’ll see in the Legal Description in Sec. 2 if Gulf of America will be used when describing the leased tract.
LINK
Posted on 12/11/25 at 8:35 am to ragincajun03
Which one of those did JR trick Cliff into buying?
Posted on 12/11/25 at 12:15 pm to ragincajun03
Legally, ‘Gulf of America’ is an Executive Order designation. Not sure any lawyers would risk a $276 Million dollar deal on that basis. Maybe, but we’ll see.
Posted on 12/11/25 at 12:54 pm to Traffic Circle
I don’t disagree if we’re talking company to company operating agreements and such, but I wouldn’t be so sure the current DoI doesn’t insist on “Gulf of America” in the Legal Description on the lease itself.
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