Oil and gas explorers in the US Gulf of Mexico splashed out a total of $121.1 million in high bids this week to bulk up their positions, reclaim expiring acreage and reach into some new areas at the first area-wide lease sale for the prolific oil-producing region.
The process saw 23 companies enter bids on 90 areas, an event livestreamed from New Orleans by the Bureau of Ocean Energy Management (BOEM) oil regulator.
