Petsec Picks Up Four Blocks in the Gulf of Mexico Lease Sale

Petsec Energy has submitted the highest bids on four leases at the Central Gulf of Mexico Lease Sale 198 conducted by the Minerals Management Service (MMS) in New Orleans on March 15th.

The leases will be awarded to Petsec subject to the approval of the MMS. The four leases are Main Pass 7, Main Pass 91, Vermilion 41 and Vermilion 148. Total spent at the sale was $2,251,800. All four leases have previously produced oil or gas.

The new Main Pass leases are immediately to the north of the Company's recent oil and gas discovery on the Main Pass 18 lease.

The new Vermilion leases are located approximately 35 miles and 65 miles to the north of the Company's Vermilion 258 gas field.

Petsec Energy will have a 100% working interest (83.33% net revenue interest) in these new leases when they are awarded.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Sr. Contracts Negotiator
Expertise: Contracts Administration|Contracts Engineer|Legal
Location: Houston
Load Planner/ Dispatcher Frac Sand
Expertise: Dispatcher|Project Management
Location: Mansfield, TX
United States Houston: Marketing Specialist
Expertise: Business Development|Marketing|Sales
Location: Houston, TX
search for more jobs

Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours