Hydro Secures Stake in 13 Gulf of Mexico Blocks

Hydro's Gulf of Mexico business unit enjoyed a successful licensing round when it participated in the Western Gulf of Mexico Sale 204, held on August 22 in New Orleans, Louisiana.

Hydro was the highest bidder for 13 of the 19 bids submitted, which gave an overall success rate of 68%.

Hydro secured ownership shares in all five deepwater prospects (seven blocks), in whole or in part, and in all six of the shelf prospects.

Hydro's net expenditure is USD 7,920,514, which indicates a very efficient bidding strategy.

Hydro will also be operator in all shelf blocks and in six of the seven deepwater blocks for which the company bid.

All bids are subject to final evaluation by the Minerals Management Service. This process takes around 90 days to complete.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Project Manager
Expertise: Commercial Management|Project Management|Site Engineer
Location: LA
 
Product Manager
Expertise: Business Development|Executive
Location: Houston, TX
 
Project Manager
Expertise: Project Management
Location: Atlanta, GA
 
search for more jobs

Brent Crude Oil : $51.68/BBL 0.27%
Light Crude Oil : $49.25/BBL 0.74%
Natural Gas : $3.24/MMBtu 3.18%
Updated in last 24 hours