Today's Trends: Central GOM Lease Sale Highlights

Although still well below 2007 and 2008 record highs, the Central GOM Lease Sale 213 held this week attracted nearly a billion dollars in high bids -- about 35% higher than 2009 levels. Blocks receiving bids this year totaled 468 compared to 348 in last year's sale. The graph and table above show historical trends in high bids submitted as well as a water depth breakout of bidding in the last two CGOM Lease Sales.

Shallow water (0-<200m) bidding and ultra-deepwater (>2,000m) bidding posted nice year-over-year increases in most statistical categories this year. The average high bid per block for shallow water tracts rose approximately 60% while deepwater and ultra-deepwater tracts posted increases of about 50% and 20%, respectively. The number of shallow water blocks receiving bids was 151 (compared to 95 last year), and the number of ultra-deepwater blocks receiving bids was 141 (compared to 106 last year).

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