Region-wide gulf lease sale yields nearly $125 million in high bids

Oil & Gas Journal: The region-wide Gulf of Mexico lease sale, held Mar. 21 in New Orleans by the US Bureau of Ocean Energy Management, generated $124,763,581 in apparent high bids for 148 tracts in the gulf’s federal waters.

A total of 33 companies participated in Lease Sale 250—which covered 815,403 acres—submitting $139,122,383 in bids. The sale included 14,474 unleased blocks 3-231 miles offshore in the gulf’s western, central, and eastern planning areas in 3-3,400 m of water.

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