U.S. Federal Oil & Gas Lease Sales Ends Dirt Cheap

1 min read | August 29, 2020 12:00 AM AEST | By Team Kalkine Media

Google News:

Recent News

Top Gold Stock to Watch: Evolution Mining (ASX:EVN) Gains Fresh Moment...

Can Optiscan (ASX:OIL) Turn a First Launch Into Real Revenue?

Can NEXTDC (ASX:NXT) Turn the AI Capacity Crunch Into Lasting Growth?

Can National Australia Bank (ASX:NAB) Extend the Market Rebound?

Make Kalkine Media
My Trusted Source

A large United States federal oil & gas lease sales in New Mexico finally ends, attracting much tepid bidding from drillers as compared to the pre-pandemic levels.

The lease sales of oil & gas prospects attracted very less interest, reflecting the weakened state of the oil industry.
The Trump administration offered 93 lands parcels covering over 45,000 acres in New Mexico post offering a smaller area of 2,800 acres a day before.
The average bid price of the auction reached USD 169 per acre – as reported by EnergyNet.
The average bid remained ~ 87.80 per cent less as compared to the average bid price of USD 1,386 per acre secured by agencies in February 2020.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.