Independent oil and gas E&P firm Byron Energy announced on Tuesday that it has been awarded four offshore blocks at the Gulf of Mexico Lease Sale by the US Bureau of Ocean Energy Management (BOEM).
Australia-based Byron said the blocks were awarded to Byron subsidiary Byron Energy Inc for its high bids on Eugene Island blocks 62, 63, 76 and 77 all in a water depth of about 20 feet and which comprise the entire Eugene Island 77 Field.
Byron bid $253,000 per block for a total of $1.012 million at the lease sale on Wednesday 21 March 2018 in New Orleans, Louisiana.
The company was also the apparent high bidder for three other blocks at the same sale – South Marsh Island 70, Vermillion 232 and Vermillion 251 – but those ones have yet to be awarded.
CEO Maynard Smith said of the blocks that Byron has won: “Our proprietary RTM [Reverse Time Migration] data has identified a very good mix of exploitation type opportunities which follow up older wells drilled on all four blocks and some high potential exploration opportunities in other parts of the blocks.”