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:
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