Global Infrastructure SherpaBP dominates US Gulf lease sale with $21 million high bid for Green Canyon block
BP submitted a $21 million high bid for a block in the Green Canyon area during a U.S. Gulf of Mexico drilling rights sale, accounting for nearly half of the total $46.98 million in high bids. This acquisition by BP secures drilling rights in a key offshore oil and gas region, demonstrating continued industry interest despite lower overall participation compared to previous sales. The U.S. Bureau of Ocean Energy Management conducted the auction, which also saw bids from Chevron, Woodside Energy, Shell, LLOG Exploration, and Anadarko.
Counterparts (2)
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- BP's $21 million high bid for a Green Canyon block.
- Nearly half of the total $46.98 million in high bids came from BP.
- Other bidders included Chevron, Shell, and Woodside Energy.
- Acquisition announced March 11, 2026.
Source Intelligence
The overall sale of drilling rights in the Gulf of Mexico ended with $46.98 million in high bids from oil and gas companies, with a single bid from BP accounting for nearly half of the total. Other high bidders included Chevron, Woodside Energy, Shell, LLOG Exploration and Anadarko. Chevron's high bid total, for three blocks, neared $11.5 million. The sale was conducted by the U.S. Bureau of Ocean Energy Management (BOEM), which is an arm of the Interior Department.
"A $21 million high bid from BP for a block in the Green Canyon area was by far the auction's highest."
"The sale, conducted by the U.S. Bureau of Ocean Energy Management"
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