GULF OCS SALE 131 YIELDS LACKLUSTER RESULTS

Low gas prices and a dwindling number of available prospects suppressed interest in the latest central Gulf of Mexico lease sale. In OCS Sale 131 Mar. 27, 123 companies offered 637 bids with bonuses totaling $320.5 million for 464 blocks. One year ago, in OCS Sale 123, 96 companies offered 840 bids with combined bonuses of $589.55 million for 538 blocks in the central gulf. In Sale 131, apparent high bids totaled $259.9 million. High bids in March 1990 totaled $427.4 million. High bidder in