Western GoM Lease Sale 204 Attracts $ 289,953,066 in High Bids

Western Gulf of Mexico Oil and Gas Lease Sale 204, held today in New Orleans by the U.S. Department of the Interior's Minerals Management Service (MMS), attracted $ 289,953,066 in high bids. A total of 47 companies participated in the lease sale, in which MMS received 358 bids on 282 tracts. The sum of all bids received totaled $ 369,496,840. The sale offered 3,338 tracts comprising approximately 18 million acres offshore Texas.

"The success of this lease sale once again demonstrates industry's commitment and interest in the Gulf," said MMS Director Randall Luthi. "The bidding in this sale is an indicator that the Gulf of Mexico will continue to be a strong source for the nation's energy production in the future."

The high bid for each block will go through a strict evaluation process to ensure the public receives fair market value before a lease is awarded.

The top five companies submitting the highest dollar amount of high bids for Sale 204:

Company Number of High Bids Submitted Sum of High Bids Submitte
Statoil Gulf of Mexico LLC 36 $ 138,889,688
BP Exploration & Production Inc. 91 31,015,727
Petrobras America Inc. 34 29,268,100
Devon Energy Production Company, L.P. 26 20,035,500
ConocoPhillips Company 24 12,341,000

The top five companies submitting the highest number of high bids for Sale 204:

Company Number of High Bids Submitted Sum of High Bids Submitte
BP Exploration & Production Inc. 91 $ 31,015,727
Statoil Gulf of Mexico LLC 36 138,889,688
Petrobras America Inc. 34 29,268,100
Devon Energy Production Company, L.P. 26 20,035,500
ConocoPhillips Company 24 12,341,000

The top five companies submitting the highest dollar amount of total bids for Sale 204:

Company Number of High Bids Submitted Sum of High Bids Submitted
Statoil Gulf of Mexico LLC 40 $ 143,145,888
BP Exploration & Production Inc. 108 55,141,176
Petrobras America Inc. 40 30,082,600
Shell Offshore Inc. 11 23,319,996
Devon Energy Production Company, L.P. 34 21,887,000
Related Companies
 Company: BP plcmore info


 - Unite Expresses Concern Over Possible Forties Pipeline System Sale (Mar 17)
 - BP Appoints New Heads Of Production, Drilling As Output Set To Jump (Mar 16)
 - Wood Group Wins Mad Dog 2 Contracts (Mar 14)
 Company: Minerals Management Service (MMS)more info
 - Obama Names New Head of MMS (Jun 15)
 - Abbey Implements New Drilling Requirements (Jun 7)
 - MMS Chief Resigns (May 27)
 Company: Petrobrasmore info


 - Petrobras Raises Asset Sale Goal To $21B For 2017-2018 Period (Mar 22)
 - Petrobras Resorts To Top Court To Free Divestment Plan (Mar 17)
 - CFO: Brazil's Petrobras Confident Accounting Practices Correct (Mar 8)
 Company: Shellmore info


 - Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce (Mar 22)
 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 - Southern North Sea Special Interest Group Launched (Nov 21)
 Company: Statoilmore info


 - Statoil Exec: Effective Leaders Should Empower People and Machines (Mar 24)
 - Statoil Makes North Sea Oil, Gas Discovery (Mar 24)
 - Gulf Of Mexico Lease Sale Nets $315M in Bids, Feds Suggest Trump Bounce (Mar 22)
 Company: ConocoPhillipsmore info


 - ConocoPhillips CEO Talks Talent Shortage and Learning in the Downturn (Mar 7)
 - Shell Shuns New Oil Sands as Low Crude Prices Force Cost Control (Feb 27)
 - Origin To Take A$1.9B Charge On LNG, Exploration Assets (Feb 15)
 Company: Devon Energymore info
 - Devon Energy Beats Profit Estimates As Cost Cuts Pay Off (Feb 14)
 - E&P Companies Target Potential of STACK, SCOOP Plays (Aug 25)
 - US Frackers Surprise Themselves As Tweaks Keep Adding Barrels (Aug 3)
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Executive Protection Coordinator
Expertise: Risk Management|Security
Location: TX
 
United States Denver: Proposals Specialist
Expertise: Business Development|Marketing|Sales
Location: Denver, CO
 
Landman - Midstream Surface Land
Expertise: Landman
Location: The Woodlands, TX
 
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours