Gulf sale draws fervent interest

Click here to enlarge imageRoyalty relief incentives to drill for deep gas in shallow waters, along with the continuing attraction of deepwater Gulf of Mexico exploration, were the drivers in a strong central gulf lease sale Mar. 28.Apparent high bids in the sale totaled $505,468,501. Ninety companies filed 780 bids exposing $663,406,963 for 547 tracts. The government offered 4,390 blocks in the central gulf planning area off Louisiana, Mississippi, and Alabama.The US Minerals Management Service held the sale in New Orleans, La. The sale was billed as Part 1 of Sale 178. Part 2 will be held concurrently with western gulf Sale 180 in August. It will contain some of the blocks in the cent...

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