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Western Gulf of Mexico lease sale attracts more than $487 million in high bids

Posted on 27 August 2008

According to the Minerals Management Service (MMS), other high bidders include independent Llog Exploration Offshore ($23.17 million), Shell Gulf of Mexico ($20.2 million), Anadarko E&P ($14.8 million), Hess Corp ($14.16 million), Eni Petroleum ($11.13 million), ConocoPhillips ($10.5 million) and Devon Energy ($6.67 million).

“In the midst of the national discussion about energy production, the activity at today’s sale signals that the offshore oil and gas industry is serious about developing our Nation’s resources,” said US Secretary of the Interior Dirk Kempthorne.

Each high bid on a tract will go through an evaluation process within MMS to ensure the public receives fair market value before a lease is awarded.

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