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The NewsRoom
Release: #3586
Date: November 20, 2006
Western Gulf of Mexico Sale
200 Nets $331,950,865 in High Bids
Summary of
Results
NEW ORLEANS
— The Minerals Management Service (MMS) has accepted high
bids valued at $ 331,950,865 and awarded 371 leases to the
successful high bidders who participated in Western Gulf of
Mexico Oil and Gas Lease Sale 200. Funds from the total
high bids will be distributed to the general fund of the U.
S. Treasury, shared with the affected States, and set aside
for special uses that benefit all fifty states.
The leases were
awarded following the completion of an extensive, two-phase
bid evaluation process to ensure that the Federal government
receives a fair monetary return for the public mineral
resources it makes available.
A total of 381
tracts in the Western Gulf of Mexico received bids at Lease
Sale 200 held August 16, 2006. Sixty-two companies
submitted 561 bids with a total for high bids on all 381
tracts of $340,935,514. Using the two-phase bid evaluation
process, MMS rejected high bids totaling $8,984,649 on ten
tracts as insufficient for fair market value. MMS accepted
high bids totaling $331,950,865 on 371 tracts.
The highest bid
accepted on a tract was $21,011,812, made by BP Exploration
& Production Inc. for Keathley Canyon Block 58. This tract
is in deep water (800- <1600 m) and received four bids. The
second highest accepted bid is $12,800,111 on Keathley
Canyon Block 59 by Petrobas America Inc. and is in deep
water (800- <1600m). The third highest accepted bid is
$10,800,111 on Keathley Canyon Block 147 by Petrobas America
Inc. in deep water (800 - <1600 m).
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The top five companies with the highest number
of accepted high bids for Sale 200 are the
following: |
|
Company |
Number of
Accepted
High Bids |
Sum of
Accepted
High Bids |
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1. Petrobras America Inc |
34 |
$45,483,774 |
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2. Hess Corporation |
30 |
$16,804,661 |
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3. BP Exploration & Production Inc. |
29 |
$35,696,172 |
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4. Shell Offshore Inc. |
25 |
$31,824,425 |
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5. Kerr-McGee Oil & Gas Corporation |
25 |
$15,390,478 |
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The top five companies with the highest total
bonus accepted are the following: |
|
Company |
Number of
Accepted
High Bids |
Sum of
Accepted
High Bids |
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1. Petrobras America Inc. |
34 |
$45,483,774 |
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2. BP Exploration & Production Inc. |
29 |
$35,696,172 |
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3. Cobalt International Energy, L.P. |
24 |
$33,125,180 |
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4. Shell Offshore Inc. |
25 |
$31,824,425 |
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5. Chevron U. S. A. Inc. |
18 |
$25,804,466 |
Relevant Web Site:
MMS Main Website
Media Contact:
Eileen P. Angelico,
(504) 736-2595
Caryl Fagot, (504) 736-2590
MMS: Securing Ocean
Energy & Economic Value for America
U.S. Department
of the Interior
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