In addition to the annual Central
Gulf lease sales, the Minerals Management Service, part of the U.S. Interior Department, also holds an annual
lease sale in the Western Gulf.
Lease sales in the Central Gulf typically attract more bids than those in the Western Gulf because the region is richer in oil and gas and more discoveries have been made there.
Shallow water drew most attention in the latest Central
Gulf lease sale, with bids received on 338 blocks in depths up to 656 ft.. High bids totaled $167.5 million.
Bids were received on 157 blocks in depths of over 2,624 ft., with high bids totaling $274.2 million.
Companies also bid on 52 blocks in intermediate depths, with high bids amounting to $63.7. million. — (Reuters)