Western GoM lease sale high bids total more than $102 million

Offshore staff

NEW ORLEANS – Western Gulf of Mexico Lease Sale 233 drew more than $102 million in high bids for 53 tracts on the OCS. Bids covered 301,006 acres of the nearly 21 million on offer.

The highest bid on a single tract was $30,583,560 by ConocoPhillips for Alaminos Canyon block 475. ConocoPhilips also submitted the highest total amount in bonus bids, $50,323,180 on 29 tracts.

Chevron USA Inc. submitted the next two highest bids: $19,102,687 and $13,111,191 for East Breaks blocks 499 and 500, respectively. Chevron submitted the second-highest total amount at $32,323,180 with just three bids, while Maersk Oil Gulf of Mexico Two placed third at a total of $6,823,281 in seven bids

This sale offered all unleased and non-protected areas in the Western Gulf of Mexico planning area, including 3,864 tracts from nine to more than 250 mi off the coast, in depths ranging from 16 to more than 10,975 ft (five to 3,346 m). BOEM estimates the lease sale could result in the production of 116 to 200 MMbbl of oil and 538 to 938 bcf of natural gas.

8/28/2013

 

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