Contested GOM lease sale proves ‘best in 9 years’

The Aug. 16 western Gulf of Mexico Lease Sale 200 was “the best in 9 years,” said US Minerals Management Service officials, despite a federal judge’s warning that pending court action by Louisiana state officials could overturn that sale.MMS reported robust bidding for federal leases in the sale, with high bids totaling $340.9 million from 62 companies. The total of all bids submitted was $462.8 million, up 38% from the 2005 lease sale in the western gulf. MMS officials credited high oil and gas prices and increased industry interest in deepwater production for the sale’s success.MMS received 541 bids on 381 tracts. “[Lease] Sale 200 is the best western sale ...

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