For Immediate Release
Highlights
- Harvester Energy Pty Ltd has been listed as high bidder for Green Canyon Block 82 (OCS G38048) in the US Bureau of Ocean Energy Management’s (BOEM) Big Beautiful Gulf 1 offshore lease sale.
- Despite the sales round attracting 219 bids from 30 companies, totaling US$371.9 million, in a competitive field that included major global operators, Harvester was the only bidder for its block.
- Harvester’s result highlights the type of offshore opportunity Pivotree’s patented and qualified technology is designed to unlock by reducing infrastructure intensity, capital at risk and time to first production.
- The block may provide a pathway for pre-FEED/FEED work and a potential first-deployment opportunity for Pivotree, subject to commercial arrangements, regulatory approvals and project sanction.
PERTH, WESTERN AUSTRALIA – 25 May 2026 – Pivotree Pty Ltd, a Western Australian offshore energy technology company, congratulates Harvester Energy on being named high bidder for Green Canyon Block 82 in the US Bureau of Ocean Energy Management’s Big Beautiful Gulf 1 offshore lease sale.
BOEM’s final bid recap lists Harvester Energy Pty Ltd as the 100% bidder for OCS G38048, Green Canyon Block 82, with a high bid of US$806,400. Harvester was the only bidder for OCS G38048, Green Canyon Block 82, despite other blocks attracting 219 bids totaling US$371.9 million from 30 companies.
Pivotree considers Harvester’s success a compelling example of how technology-led development assumptions can change the screening logic for offshore opportunities. Under conventional, infrastructure-heavy development models, some discoveries and prospects are screened out before their economic potential is fully tested.
Pivotree’s conductor-supported mooring and integrated subsea production tree is designed to redefine minimum facilities for offshore oil, gas and carbon storage. The system enables a small FPSO to be moored and connected at the well, creating a lower-CAPEX pathway for appraisal, early production, floating tieback, marginal-field development and carbon storage applications.
Marcus Christian, Executive Director of Pivotree, said: “Harvester’s high bid is a David-and-Goliath story for offshore energy technology. A small Australian company has identified an opportunity in a highly competitive US Gulf sale by looking at development differently. That is the Pivotree difference: reducing the capital at risk and giving operators a more agile pathway to appraise, develop and monetise offshore resources.”
Mr Christian said the result also demonstrates the broader role Pivotree can play across the offshore asset life cycle, from exploration and appraisal through to stranded and marginal-field development, mature-asset enhancement and carbon storage.
“This is not only about one block,” Mr Christian said. “It points to a different way of assessing offshore opportunities. By reducing CAPEX, OPEX, abandonment exposure and schedule risk, Pivotree can help turn projects that previously looked marginal into opportunities that can be advanced, tested and potentially sanctioned.”
Harvester is expected to progress the block through further technical and commercial work toward pre-FEED/FEED and potential final investment decision (FID). If successful, the opportunity could provide an important pathway toward Pivotree’s first deployment following the receipt of DNV Technology Qualification in June 2025.
About BOEM Big Beautiful Gulf 1:
Big Beautiful Gulf 1 was an offshore oil and gas lease sale conducted by the US Bureau of Ocean Energy Management on 10 December 2025. For BOEM’s sale materials and final bid recap, please visit the BOEM BBG1 Lease Sale page.
About Harvester Energy Pty Ltd:
Harvester Energy is a technology-focused, low-environmental-footprint energy producer developing stranded oil and gas resources quickly, cost-effectively and with lower capital, operating and abandonment costs.
For more information about Harvester Energy Pty Ltd, please visit www.harvester.energy
About Pivotree Pty Ltd
Pivotree Pty Ltd is a technology company based in Perth, Western Australia. The company specialises in low-cost, low-risk, agile energy production and carbon storage technologies, with a mission to accelerate the global transition to a sustainable and low-carbon energy system.
For more information about Pivotree Pty Ltd and its innovative technology, please visit www.pivotree.com.au.
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This announcement is authorised for release by Marcus Christian, Executive Director, Pivotree.
For further information please contact:
Marcus Christian, Executive Director
Forward Looking Statements
Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices, or potential growth of Pivotree are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.
