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

  • 02 September 2014

    FMC vocational technical training recognizes importance of non-technical skills

    The oilfield service business is a people business, and when you deal with human beings, there are no absolutes. In the world of vocational technical training, this means...

  • 28 August 2014

    DNV GL launches interactive Arctic risk map

    DNV GL has developed an interactive Arctic Risk Map to present the risks associated with offshore and maritime activities in the Arctic. The map aims to provide stakeholders...

  • 27 August 2014

    Video: Aviation safety program encourages employees to voluntarily report safety issues

    Since 2009, there have been no passenger fatalities on domestic airlines in the US, Ronny “Ronoo” Monsour, VP of Sales for Check-6, said. Mr Monsour also a pilot for...

  • 27 August 2014

    Vestigo Petroleum plans ‘manufacturing approach’ to marginal fields offshore Malaysia

    Vestigo Petroleum, a wholly owned subsidiary of Malaysian NOC Petronas Carigali, is about to put a tender out for its first rig on a first drilling program offshore...

  • 27 August 2014

    Case study from mining: Image-driven safety campaign removes communication barriers

    In the world of process safety, people, equipment, the environment and reputation are some of industry’s greatest assets, Marlane Kayfes, Senior Technical Writer...

  • Read more news