Offshore staff
(US, GoM) - The Minerals Management Service has accepted the high bids on 342 of 346 tracts for a net amount of $283,441,874 offered during the Western GoM Lease Sale 196, held on Aug. 17, 2005.
Of the 346 tracts receiving bids during the sale, the MMS rejected four high bids totaling $1,750,991 as insufficient for fair market value.
The highest bid accepted on a tract was $26,500,000 by LLOG Exploration Offshore, Inc. for High Island block 156. This tract is located in water depths averaging up to 200 m and received 1 bid.
The second and third highest bids accepted were $21,600,000 by LLOG Exploration Offshore Inc. on High Island block 139, situated in water depths averaging up to 200 m, and $19,334,351 by Eni Petroleum Exploration Co. Inc. for Keathley Canyon block 1008, which is located in water depths of greater than 2,000 m.
The MMS says "this sale indicates the continued strong interest of major and independent oil and gas companies in the Gulf. The results also indicate a continuing interest in shallow water areas."
The top five companies participating in the highest number of accepted high bids for Sale 196 included Petrobras America Inc. (53), BP Exploration & Production Inc. (39), Shell Offshore Inc. (30), Anadarko Petroleum Corp. (20), and Chevron USA Inc. (17).
1/6/06
