Central Gulf of Mexico Sale Nets $159.1 Million

Monday, August 23, 1999
The U.S. Department of the Interior's Minerals Management Service (MMS) announced the completion of the two-phase bid evaluation process for Lease Sale 172. This sale, held March 17, 1999, received 272 bids on 207 tracts offshore Louisiana, Mississippi, and Alabama. Of the 207 high bids received, MMS rejected 16 high bids totaling $12.7 million as insufficient for fair market value. Two of the tracts are located on the shelf and 14 tracts are located in deepwater. As a result, MMS awarded $159.1 million in high bids. Of the 67 companies submitting bids, the top companies ranked by number of winning bids on Sale 172 are: Company Tracts Sonat Exploration GOM Inc. 22 Kerr-McGee Oil & Gas Corporation 14 Vastar Resources, Inc 14 Spinnaker Exploration Company, L.L.C. 13 Murphy Exploration & Production Company 12 Samedan Oil Corporation 12 BHP Petroleum (Deepwater) Inc. 10 Amerada Hess Corporation 9 CNG Producing Company 9 Callon Petroleum Operating Company 8 Elf Exploration, Inc. 8
Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

7 Rescued from Sinking Freighter Near Haiti

Seven crewmembers were rescued after their 100-foot coastal freighter began taking on water and sank approximately 45 miles north off of Cap Haitien, Haiti, Friday.

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0975 sec (10 req/sec)