CATEGORIZED | News

New central GOM lease sale a far cry from 2008 record-breaker

Posted on 20 March 2009

The highest bid received in on a tract in Sale 208 was more than $65.6 million, submitted by Shell Gulf of Mexico for Mississippi Canyon, Block 721. The operator had a total of $153.63 million in 39 high bids in this round.

A total of 13 tracts in the “181 South Area” of the Central Gulf of Mexico received bids, with the high bids totaling $6,476,545. The states of Alabama, Mississippi, Louisiana and Texas will share in 37.5% of the high bids on these tracts, as well as all future revenues generated from this acreage leased today in the “181 South Area.” In addition, 12.5% of revenues from these tracts will go into the Land and Water Conservation Fund to enhance parklands and for other conservation projects.

Other top bidders in this sale included BP ($77.5 million in high bids); Marathon Oil ($62.4 million); Noble Energy ($55.4 million); BHP Billiton Petroleum ($50.4 million); Statoil Gulf of Mexico ($49.3 million); Repsol E&P ($48.5 million); ExxonMobil ($24.5 million); Chevron ($22.4 million); and Ecopetrol America ($20.6 million).

Each high bid on a tract will go through an evaluation process before a lease is awarded.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 17 April 2014

    Shell makes deepwater gas discovery offshore Malaysia

    Shell has made an exploration discovery offshore Malaysia in the Rosmari-1 well located 135 km offshore Malaysia in Block SK318. The well was drilled to a total depth of 2,123...

  • 16 April 2014

    Maersk Drilling takes delivery of ultra-deepwater drillship

    Maersk Drilling has taken the delivery of its second drillship, Maersk Valiant from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South-Korea. Maersk Valiant has begun its voyage toward the...

  • 16 April 2014

    Ensco orders new jackups from Lamprell

    Ensco has ordered two high-specification jackups, ENSCO 140 and ENSCO 141, for delivery in mid-2016 from Lamprell’s shipyard in the United Arab Emirates. The rigs will also...

  • 16 April 2014

    MPD/UBD successfully drills sidetrack after 6 failed conventional drilling attempts

    In the Brookeland Field in East Texas, conventional drilling methods failed in six attempts to drill a “straightforward” horizontal wellbore. The original well had surface casing installed...

  • 16 April 2014

    Chevron’s DGD training program serves array of learners across generations

    Since 2008, more than 400 people – from operators, drilling contractors, service companies and regulators – have completed Chevron’s dual-gradient drilling (DGD) training...

  • Read more news