REPYF - Final Trump Gulf of Mexico oil auction draws $121M in high bids

The Trump administration's final sale of oil and gas leases in the Gulf of Mexico generated nearly $121M in high bids, an improvement from the $93M raised in the March sale when the pandemic was beginning to depress world demand for fuel.The sale, which offered 79.6M acres in the GoM for auction to drillers, received 105 bids by 23 companies.The highest bid, entered jointly by divisions of Norway's Equinor (EQNR) and Spain's Repsol ([[REPYF]], [[REPYY]]), was nearly $12M for a block in the Walker Ridge area.[[BP]], Chevron (CVX) and Royal Dutch Shell ([[RDS.A]], [[RDS.B]]) were among other apparent winners.The sale was the last before the January inauguration of Pres.-elect Joe Biden, who has pledged to ban new drilling on federal lands and waters.

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Final Trump Gulf of Mexico oil auction draws $121M in high bids