MMS Receives 407 Bids for Western Gulf Sale 187

The MMS Gulf of Mexico Outer Continental Shelf Region has received 407 bids on 335 tracts from 52 companies in the Western Gulf of Mexico Lease Sale 187. The lease sale will take place on August 20, 2003 in New Orleans. Shallow water areas with deep natural gas deposits are expected to dominate the sale. During the last few western Gulf of Mexico lease sales attention has been focused on shelf properties. Lease Sale 184 hel last year attracted $148.6 million for 316 leases. Five-year leases on shallow-water blocks made up approximately 44% of total accepted bids.

Lease Sale 187 includes 21.7 million acres off the Texas and Louisiana shores, in depths from 45 feet to 1,171 feet.
Company: Minerals Management Service (MMS) more info
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