Central Gulf of Mexico Lease Sale 208

Thursday, March 19, 2009

Secretary of the Interior, Ken Salazar, announced that the Central Gulf of Mexico Oil and Gas Lease Sale 208, held in New Orleans, attracted $703,048,523 in high bids. The sale was conducted on March 18 by Interior’s Minerals Management Service (MMS) and had 70 companies submitting 476 bids on 348 tracts comprising over 1.9 million acres offshore Louisiana, Mississippi and Alabama. The sum of all bids received totaled $ 933,649,315.

“Today’s lease sale will help us make a wise addition to our nation’s energy supply,” said Interior Secretary Ken Salazar. “The responsible energy development resulting from today’s sale will be a part of our nation’s comprehensive energy plan, which will include a renewed emphasis on conservation and an aggressive effort to develop our renewable energy resources, so we can move our nation toward energy independence.”

The highest bid received on a tract was $ 65,611,235 submitted by Shell Gulf of Mexico Inc. for Mississippi Canyon, Block 721. There was a total of 13 tracts receiving bids in the “181 South Area” of the Central Gulf of Mexico, Salazar noted, and the high bids for these tracts totaled $6,476,545. The states of Alabama, Mississippi, Louisiana, and Texas will share in 37.5 percent of the high bids on these tracts as well as all future revenues generated from this acreage leased on March 18 in the “181 South Area.” The enhanced revenue sharing program was mandated by the Gulf of Mexico Energy Security Act of 2006.

In addition, 12.5 percent of revenues from the “181 South Area” tracts will be deposited into the Land and Water Conservation Fund for use by states to enhance parklands and for other conservation projects. Each high bid on a tract will go through an evaluation process within MMS to ensure the public receives fair market value before a lease is awarded.

Sale statistics for Central Sale 208 are posted on the MMS website at: www.gomr.mms.gov/homepg/lsesale/208/cgom208.html

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Activists Planning Protest Against Shell's Arctic Business

U.S. environmental activists said they planned to protest on Tuesday against the launch of the second of two oil rigs central to Shell's plans to drill for oil in the Arctic.

Technip Wins Jurong's FPSO Conversion Contract

Technip has been awarded a topsides detailed engineering and procurement services contract by Jurong Shipyard Pte Ltd. The project is part of the conversion of a shuttle tanker into a floating,

SeaZip Offshore Service Commences Operation

Harlingen-based SeaZip Offshore Service has entered into a partnership agreement with Heerema Marine Contractors (HMC). HMC, the world's market leader in transporting,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1775 sec (6 req/sec)