Abstract

Gulf of Mexico Bidding Trends Using Historic Data and Field Results
Track: Petroleum
Authors: Fabian Guarin

The US Federal government through the Bureau of Ocean Energy Management (BOEM) leases acreage in the offshore Gulf of Mexico (GOM). The BOEM leasing program includes 93.75 million acres in one of the most productive basins in the world. This project explores the geographic distribution of bids in the GOM by analyzing bid amount and location against production results. The study includes the identification of hot spots where bids are more frequent or higher, and an analysis of cost and benefits.