Some see eastern gulf Sale 181 as missed opportunity

12/17/2001
Oil and gas companies bid on 95 of 233 tracts far off Alabama in the eastern Gulf of Mexico in early December, but some said the federal lease sale was a missed opportunity for industry.Seventeen companies bid a total $458.9 million at the sale, OGJ Online reported Dec. 5. Click here to enlarge imageBlocks offered were no closer than 100 miles from shore and no more than 24 miles east of the eastern boundary of the Central Planning Area (see map).Some industry observers were scratching their heads over several established deepwater stars that either were underachievers or did not bid in the first lease sale in those waters since 1988. All of the blocks that drew bids in the sale are in 1...
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