Research shows using microseismic data with refracks could help lift recovery from old wells, providing an alternative to drilling new wells.

U.S. Gulf of Mexico planning areas (Source: BOEM)

Sale day statistics show 64 blocks in water depths of greater than 1,600 m (5,249 ft) received bids worth a total of about $334.9 million.

U.S. Mexico Transboundary.jpg

Regulators are working out the details of the agreement as lease sales approach on both sides of the border.

The country plans to offer additional acreage onshore and offshore later this year.

Given lower oil prices, Mexico is carefully choosing which fields will be part of each round.