By OGJ editors
HOUSTON, Nov. 19 -- The US Minerals Management Service has accepted high bids totaling $169,928,999 on 346 tracts in the western Gulf of Mexico offered during Lease Sale 192.
The Aug. 18 sale results indicate a continuing strong interest in the Gulf by both major and independent oil and gas companies, with shallow-water areas continuing to draw bids, MMS officials said.
Houston Exploration Co. submitted the highest single bid accepted—$6.78 million—for High Island, East Addition, South Extension A-270. It lies in water 200 m deep.
Remington Oil & Gas Corp. submitted the second highest bid by offering, $4.9 million, for Garden Banks 506, and Kerr-McGee Oil & Gas Corp. won its $4.2 million bid for East Breaks 424. Both are in 800-1,599-m of water.
Amerada Hess Corp., winning 56 leases for a total of $13 million, led the five companies with the highest number of accepted high bids. BP Exploration & Production snapped up 47 leases for a total of $28 million. Petrobras America Inc. took 36 parcels for $10.5 million; a subsidiary of Devon Energy Corp. won 26 blocks for $11.5 million; and Kerr-McGee landed 24 leases for $14 million total.