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Gulf lease sales attract $3.7 billion in high bids

03/24/2008
Two federal sales of offshore oil and natural gas leases in the eastern and central planning areas of the Gulf of Mexico have attracted a total of more than $3.7 billion in apparent high bids. Central Gulf Lease Sale 206 and Eastern Gulf Lease Sale 224, both conducted by the US Department of the Interior’s Minerals Management Service, were held back-to-back Mar. 19 in New Orleans.Central Lease Sale 206, held first, attracted $3,677,688,245 in apparent high bids, setting a record in US leasing history for high bids since area-wide leasing began in 1983, MMS reported. In Sale 206 the agency received 1,057 bids from 85 companies on 615 tracts.For Eastern Lease Sale 224, held second, MM...
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