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

Offshore

Interior opens Alaskan waters to Shell

Today, the Department of the Interior issued a Record of Decision affirming Lease Sale 193 in the Chukchi Sea in Northwest Alaska. The federal government unlawfully

U.S. DoI Upholds 2008 Shell Arctic Lease

The U.S. Interior Department on Tuesday upheld a 2008 lease sale in the Chukchi Sea off Alaska, moving Royal Dutch Shell a step closer to returning to oil and gas

Japan, U.S. Look to Expand Naval Cooperation

Japanese Prime Minister Shinzo Abe's push to allow Tokyo to come to the aid of an ally under attack will pave the way for closer cooperation between U.S. and Japanese forces across Asia, a top U.

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators
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: 0.1027 sec (10 req/sec)