Block/Bidding Forecast Introduction
This is an overview of the Bidding Forecast for the GOM³ Analytics Add-on, focusing on how the tools works and the wealth of information in the output. For each deepwater block in the Gulf of Mexico, this tool forecasts the likelihood of receiving a bid, the likely bid amount, the likelihood of the BOEM accepting the minimum-allowable bid, and the amount the BOEM is likely to accept if it is above the minimum. A deeper dive on the models used for the forecasts can be viewed here: • Block/Bidding Evaluation - Deep Dive