Trump Administration’s Final Oil & Gas Lease Auction Bags USD 121 Million

  • November 19, 2020 05:10 PM AEDT
  • Team Kalkine

The final sale of oil and gas lease in the Gulf of Mexico, ahead of the U.S. 2020 presidential elections by the Trump administration, bagged ~ USD 121 million marking an improvement over the last auction.

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  • The lease auction offered 79.6 million acres in the Gulf of Mexico, receiving 105 bids by 23 companies.
  • The highest bid reached USD 12 million for a block in the Walker Ridge area.
  • Officials believe that the sale underscored the commitment of the oil industry towards the Gulf of Mexico over the long-term.


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