Devon Higher Bidder of Four GOM Blocks

Devon Energy Corporation was the apparent high bidder on four shallow water blocks in today's Central Gulf of Mexico Lease Sale 182. The company's total exposure for its 100 percent share of the high bids is approximately $2.3 million. The bids are subject to approval by the U. S. Department of Interior's Minerals Management Service.

Assuming approval of its bids, Devon will hold 321 lease blocks in federal waters of the Gulf of Mexico. Devon's lease blocks include 212 on the continental shelf and 109 in deepwater. Of the 321 total blocks, 168 are producing blocks and 153 are exploratory blocks. Devon currently operates 97 platforms in the Gulf of Mexico.