Offshore Energy Industry Bets on Central GOM

The offshore energy industry continues to show interest in the Gulf of Mexico's Outer Continental Shelf, with 67 companies submitting 642 bids on 468 tracts that are being offered offshore Louisiana, Mississippi, and Alabama in tomorrow's Minerals Management Service Central Gulf Sale 213.

"The industry's interest in tomorrow's Central Gulf oil and gas lease sale demonstrates the importance of the deepwater Gulf to future energy development," said MMS Gulf of Mexico Regional Director Lars Herbst, who will preside over tomorrow's lease sale in the New Orleans Superdome.

A total of 295 tracts in water depths greater than 1,300 feet received bids. The sealed bids will be opened and publicly read at tomorrow's sale. The high bidder for each tract will have its bid analyzed for fair market value before the lease is awarded.

Reading of the sealed bids will begin at 9:00 a.m. CDT in the St. Charles Club Room, 2nd floor, at the Louisiana Superdome, 1500 Sugarbowl Drive, New Orleans.

The final results of the sale will be announced later in the day, about 12:00 p.m.

Company: Minerals Management Service (MMS) more info
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