Oil and gas companies with eyes on longer-term demand still have an appetite for resources of the U.S. Gulf of Mexico (GoM), evidenced by nearly $121 million in high bids placed on blocks offered during the last federal offshore lease sale of 2020.

The U.S. Bureau of Ocean Energy Management’s (BOEM) Nov. 18 sale—which offered blocks for oil and gas development offshore Texas, Louisiana, Mississippi, Alabama and Florida— attracted 23 companies that placed 105 bids, preliminary statistics showed.

The bids were placed on only 93 of the more than 14,750 blocks offered.

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