A total of 33 companies participated in the lease sale, submitting $198,511,834 in total bids. The Bureau of Ocean Energy Management (BOEM) has announced that Gulf of Mexico Lease Sale 257 generated $191,688,984 in high bids for 308 tracts covering 1.7 million acres in federal waters of the Gulf of Mexico (GOM). A total of 33 companies participated in the lease sale, submitting $198,511,834 in total bids, BOEM revealed. ExxonMobil Corporation submitted the highest number of total bids at 94 and Chevron U.S.A. Inc submitted the largest value of total high bids at $47,128,011, lease sale 257’s final notice of sale information package shows. Other companies participating in the sale included Shell Offshore Inc, BP Exploration & Production Inc and Equinor Gulf of Mexico LLC. Revenues received from offshore oil and gas leases are directed to the U.S. Treasury, certain Gulf Coast states and local governments, the Land and […]