The leases were awarded following the completion of an extensive, two-phase bid evaluation process to ensure that the Federal government receives a fair monetary return for the public mineral resources it makes available.
A total of 381 tracts in the Western Gulf of Mexico received bids at Lease Sale 200 held August 16, 2006. Sixty-two companies submitted 561 bids with a total for high bids on all 381 tracts of $340,935,514. Using the two-phase bid evaluation process, MMS rejected high bids totaling $8,984,649 on ten tracts as insufficient for fair market value. MMS accepted high bids totaling $331,950,865 on 371 tracts.
The highest bid accepted on a tract was $21,011,812, made by BP Exploration & Production Inc. for Keathley Canyon Block 58. This tract is in deep water (800- <1600 m) and received four bids. The second highest accepted bid is $12,800,111 on Keathley Canyon Block 59 by Petrobas America Inc. and is in deep water (800- <1600m). The third highest accepted bid is $10,800,111 on Keathley Canyon Block 147 by Petrobas America Inc. in deep water (800 - <1600 m).
The top five companies with the highest number of accepted high bids for Sale 200 are the following:
The top five companies with the highest total bonus accepted are the following:
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