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MMS Lease Sale 207 attracts $487 million in apparent high bids

08/25/2008
Apparent high bids totaling just over $487 million were offered for 319 tracts in the western Gulf of Mexico at Lease Sale 207, reported the US Department of the Interior’s Minerals Management Service Aug. 20 in New Orleans.MMS received 423 bids totaling just over $607 million from 53 companies at the sale. This compares with 358 bids received totaling $369.5 million from 47 companies at the last western gulf sale (OGJ, Aug. 27, 2007, p. 30).“This sale is an important next step in the journey to ensuring the nation’s energy security,” said MMS Director Randall Luthi. “The participation of the offshore oil and gas industry in this sale shows their commitment t...
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