MMS lease sale attracts $487,297,676 in high bids

The Western Gulf of Mexico Oil and Gas Lease Sale 207 attracted $487,297,676 in high bids, according to MMS.

Offshore staff

NEW ORLEANS -- The Western Gulf of Mexico Oil and Gas Lease Sale 207 attracted $487,297,676 in high bids, according to MMS. Fifty-three companies submitted 423 bids on 319 tracts comprising over 1.8 million acres offshore Texas. The sum of all bids received totaled $607,134,968.

Approximately 17% of the tracts receiving bids are in ultra deepwater (more than 1,600 m [5,249 ft]). The deepest tract bid on is Alaminos Canyon, block 783 in 2,977 m (9,767 ft) of water. The highest bid received on a tract was $61,110,000, submitted by Statoil Gulf of Mexico LLC for Alaminos Canyon block 380.

08/20/2008

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