Nick Snow
Washington Correspondent
WASHINGTON, DC, Oct. 24 -- The US Minerals Management Service has sold 114.8 bcf of natural gas from the Gulf of Mexico in the first royalty-in-kind transaction to include production from offshore Alabama as well as Louisiana and Texas.
The mid-October sale provides for gas delivery for 5 or 12-month terms to 13 offshore pipeline systems in the gulf, MMS said Oct. 23.
Ten companies received contracts for the 13 sales packages. They included Chevron Natural Gas Co., Conectiv Energy Supply Inc., ConocoPhillips, Constellation Energy Commodities Group Inc., National Energy & Trade LLC, Sequent Energy Management LP, Total Gas & Power North America Inc., Trammo Petroleum Inc., United Energy Trading LLC, and Williams Power Co.
Fifteen companies tendered a record 115 offers for the RIK gas.
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