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Thirty-two companies participated in the first U.S. offshore natural gas and oil auction in almost two years on Wednesday, with producers vying for
Chevron U.S.A. Inc. offered seven of the 10 highest bids for drilling rights in a Gulf of Mexico auction Wednesday.
Bureau of Ocean Energy Management (BOEM) will publish the Proposed Notice of Sale (PNOS) for an oil and gas lease sale in the Gulf of Mexico, which is scheduled to be held in September 2023. Gulf of Mexico Oil and Gas Lease Sale 261 would offer approx. 13,620 blocks on 73.4 million acres on the U.S. Outer Continental Shelf in the Western, Central, and Eastern Planning Areas.
Skyrocketing oil prices caused by Russia’s war on Ukraine and Biden’s war on hydrocarbons present the Gulf of Mexico E&P industry with a conflicting brew of circumstances.