Central gulf leases draw $363 million, 77 bidders

04/01/2002
Companies offered $363.2 million in apparent high bids for 506 offshore tracts at Sale 182 in the central Gulf of Mexico, the US Minerals Management Service reported.MMS received 697 bids totaling $442.4 million from 77 companies. That was down from 780 bids totaling $663.4 million submitted by 90 companies for 547 tracts during the last central gulf lease sale nearly a year ago. High bids in the 2001 sale totaled $505.5 million. Click here to enlarge imageA more even mix of major integrated companies and independents participated in Sale 182, analysts reported. Independents seemed to dominate lease sales last year for both the central and western gulf.The 10 companies submitting the hig...
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