Western gulf lease sale attracts $110 million in high bids

08/25/2014
Matt Zborowski Staff Writer Gulf of Mexico western planning area Lease Sale 238 drew 93 bids from 14 companies over 81 blocks covering 433,823 acres, totaling $109,951,644 in apparent high bids, reported the US Bureau of Ocean Energy Management (BOEM), which held the event on Aug. 20 in New Orleans. Although the total bids were more than the 61 received in last year's western gulf lease sale, the total value in apparent high bids was just modestly higher than last year's $102,351,712 received from 12 companies (OGJ Online, Aug. 28, 2013). Notably, 24 bids were received for the 167 blocks offered on or partially within 3 statute miles of the maritime and continental shelf boundary with Mex...
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