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