Oil companies are set to pay an estimated $120.9 million in high bids for drilling rights across 93 tracts in the Gulf of Mexico following a government auction Wednesday.
- Twenty-three companies participated in the lease sale, the last offshore oil auction slated to be conducted under President Trump
- NOTE: President-elect Joe Biden has said he would ban “new oil and gas permitting on public lands and waters” though it’s not clear when or how he might pursue those restrictions
- Deputy Interior Sec. Kate MacGregor says in news releasethat the sale “exceeded expectations” with a showing that “demonstrates the long-term ...