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US Gulf of Mexico Lease Sale 252 bodes well for future exploration in the region

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Listen: US Gulf of Mexico Lease Sale 252 bodes well for future exploration in the region

US Gulf of Mexico Lease Sale 252 saw the largest number of total high bids in two years and four auctions.

The 30 oil company participants were willing to spend on more acreage to replenish their inventories and prop up production, although mostly around existing fields.

Does this mean that more wildcat exploration is around the corner?

S&P Global Platts editor Starr Spencer discusses these and other issues.

Related coverage from Platts

USG Lease Sale 252 reflects some exploration interest, widespread wildcatting unlikely for now

US Gulf of Mexico Lease Sale 252 bids focus on blocks near existing fields