Shell Leads US Gulf Faithful In Oil, Gas Lease Sale

The March 20 lease sale in the U.S. Gulf of Mexico brought in $244.3 million in high bids.

The Royal Dutch Shell-operated Perdido platform is shown in the U.S. Gulf of Mexico. (Source: Shell)

The Royal Dutch Shell-operated Perdido platform is shown in the U.S. Gulf of Mexico. (Source: Shell)

Early on in the March 20 lease sale for blocks in the U.S. Gulf of Mexico (GoM), it was apparent that Royal Dutch Shell Plc would be among the most dominant players vying to land winning bids on some of the more than 14,600 blocks offered.

The Netherlands-headquartered company placed multiple bids, mostly unchallenged, in the East Breaks, Garden Banks, Alaminos Canyon, Mississippi Canyon, De Soto Canyon, Green Canyon, Atwater Valley and Lloyd Ridge. Subsidiary Shell Offshore Inc. ended up placing the most bids of the sale, pledging to pay more than any of the other 29 companies that participated. The company’s 87 apparent high bids totaling $84.8 million made up just over a third of the sale’s overall $244.3 million in high bids, preliminary sale statistics show.

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Velda Addison

Velda Addison is the senior editor of digital media for Hart Energy’s editorial team. She covers energy with a focus on renewables.