Western GoM Lease Sale 196 Receives 422 Bids on 346 Tracts

The U.S. Department of the Interior's Minerals Management Service has received 422 bids from 51 companies on 346 tracts offered in the Western Gulf of Mexico Lease Sale 196.

In the two new ultra-deepwater categories of royalty relief established, 26 bids were received in water depths from 1,600 to 2,000 meters and 60 bids were received in water depths greater than 2,000 meters. These new categories were established as a provision of the 2005 Energy Policy Act that was signed into law on August 8, 2005.

Lease Sale 196 will take place on August 17, 2005, at 9 a.m. at the Hyatt Regency Hotel, located at 500 Poydras Plaza, (Cabildo Ballrooms A, B, and C) in downtown New Orleans.

This sale will be WebCast as follows:

Through the Offshore Oil Scouts Association at www.oosa.com Real Player or Windows Media Player 6.4 or higher will need to be installed in order to run the Web cast.

(Please note that the listing of this webcast on the official MMS web site, as well as the actual webcast of the upcoming MMS lease sales is provided as a courtesy for the public and does not imply any endorsement by MMS.)

Company: Minerals Management Service (MMS) more info
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