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 282 tracts in the Western Gulf of Mexico received bids at Lease Sale 204 held August 22, 2007. Forty-seven companies submitted 358 bids with a total for high bids on all 282 tracts of $289,953,066. Using the two-phase bid evaluation process, MMS rejected high bids totaling $2,872,043 on 8 tracts as insufficient for fair market value.
The highest bid accepted on a tract was $37,588,800 made by Statoil Gulf of Mexico LLC for Alaminos Canyon Block 810. This tract is in deep water (>2,000m) and received two bids.
The top five companies with the highest number of accepted high bids for Sale 204:
The top five companies with the highest total bonus amount accepted for Sale 204:
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