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Gulf of Mexico Lease Sale Marks Strongest Bid Activity Since 2017
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Why This Matters
The Gulf of Mexico lease sale saw strong bid activity, with bids worth $300 million, the highest average price per acre in eight years, despite being $100 lower than the 2023 sale. This marks a positive start to the Trump administration's 30-lease-sale plan, aiming to tap 29.6 billion barrels of crude oil and 55 trillion cu ft of natural gas. The sale indicates a growing interest in offshore oil and gas exploration.
Market Impact
Market impact analysis based on bullish sentiment with 71% confidence.
Sentiment
Bullish
AI Confidence
71%
Article Context
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The first lease sale for the Gulf of Mexico during President Trump’s second term drew bids worth close to $300 million, with the average price bid per acre the highest in eight years. The total, however, was $100 lower than the bids made in the last Gulf lease sale, back in 2023. The Trump administration plans a total of 30 lease sales for offshore oil and gas, to run until 2040. The series should tap a total of 29.6 billion barrels of crude oil and 55 trillion cu ft of natural gas. This was the first in the series, aimed at advancing the…
Original article published by
OilPrice.com
on December 12, 2025.
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