The company, either on its own or with co-bidders, submitted apparent high bids amounting to approximately $32.5 million on four deepwater leases. (See table below for detailed bid information). The MMS is currently evaluating the high bids and will accept or reject the bids in the coming months.
Unocal currently holds an interest in 365 Gulf of Mexico leases including 230 deepwater exploratory leases, 72 shelf exploratory leases and 63 development leases.
"We're pleased to broaden Unocal's interests in two highly prospective areas," said Mike Bell, Unocal vice president, Gulf of Mexico exploration and appraisal. "We believe that these lease blocks will help us to build upon our recent exploratory successes at St. Malo in Walker Ridge and Puma in Green Canyon."
The results of Sale 190 bring Unocal's combined portfolio to 369 OCS leases in the Gulf of Mexico, if all bids are approved by the MMS.
Apparent high bids by Unocal Unocal Area/Block working interest Gross Bid Net Bid Green Canyon Block 327* 50% $760,000 $380,000 Green Canyon Block 512** 25% $31,088,000 $7,772,000 Green Canyon Block 856 100% $312,076 $312,076 Walker Ridge Block 361 100% $310,760 $310,760 * Bid partner - Nexen Petroleum Offshore USA, Inc. ** Bid partners - Nexen Petroleum Offshore USA, Inc., BHP Billiton, Anadarko
Most Popular Articles