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MMS Lease Sale 204 attracts $290 million in apparent high bids

08/27/2007
Apparent high bids totaling nearly $290 million were offered for 282 tracts in the western Gulf of Mexico at Lease Sale 204, reported the US Minerals Management Service Aug. 22 from New Orleans.MMS officials received 358 bids totaling $369.5 million from 47 companies at the sale. Interest in deepwater and ultradeepwater tracts was high. Of the tracts receiving bids, 108 blocks were in 800-1,600 m of water, 43 were in 1,600-2,000 m of water, and 30 were in more than 2,000 m of water.The latest sale offered 3,338 blocks covering 18 million acres in the western gulf’s Outer Continental Shelf planning area off Texas. Click here to enlarge imageBased on the number of total apparent high...
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