Saturday, July 12, 2014





Oil lease sale: 21M acres in western Gulf


August 28. 2013 4:36PM
Associated Press

Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) ConocoPhillips Co. made $50.3 million in high bids, including the day's highest single bid of $30.5 million, in the second-smallest federal oil lease sale for tracts off the Texas coast since area-wide sales began in 1983.


Twelve companies submitted $102.4 million in high bids on 53 blocks. ConocoPhillips bid on 31.


John Rodi, regional director of the federal Bureau of Ocean Energy Management, says the only previous sale in which a smaller number of western Gulf tracts attracted bids was in 1986 with 41 bids.


He says Wednesday's high bid total value was the seventh-lowest for the area.


ConocoPhillips' bid for a tract in the mile-deep water of Alaminos Canyon block 475 nearly equaled the record low total of 1992, when only $30.6 million in total high bids were submitted.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds