Petsec Awarded 2 GOM Leases, 3rd on the Way

Petsec Energy was awarded two new leases for which it was the highest bidder. The two leases, located in the central Gulf of Mexico, were part of a bid on three leases at the Central Gulf of Mexico Lease Sale 206.

The company said the third and final lease is subject to approval by the Minerals and Management Service, but it should be awarded in the next two months.

West Cameron 631 is a 5,000-acre lease that cost Petsec $209,900. Petsec has a 100% working interest in the lease.

West Cameron 636 is also a 5,000-acre lease. It ran Petsec $636,900, and the company has a 100% working interest in the lease.

East Cameron 102 is another 5,000-acre lease, though the award of the lease is still pending. Petsec put forth $87,750 for the lease.