Western Gulf of Mexico Oil and Gas Lease Sale 204, held in New Orleans by the U.S. Department of the Interior’s Minerals Management Service (MMS), attracted $ 289,953,066 in high bids. A total of 47 companies participated in the lease sale, in which MMS received 358 bids on 282 tracts. The sum of all bids received totaled $ 369,496,840. The sale offered 3,338 tracts comprising approximately 18 million acres offshore Texas.
“The success of this lease sale once again demonstrates industry’s commitment and interest in
the Gulf,” said MMS Director Randall Luthi. “The bidding in this sale is an indicator that the Gulf of Mexico will continue to be a strong source for the nation’s energy production in the future.”
The high bid for each block will go through a strict evaluation process to ensure the public receives fair market value before a lease is awarded.
The top five companies submitting the highest dollar amount of high bids for Sale 204:
Statoil Gulf of Mexico LLC
Number of High Bids Submitted: 36
Sum of High Bids Submitted: $ 138,889,688
BP Exploration & Production Inc.
Number of High Bids Submitted: 91
Sum of High Bids Submitted: $ 31,015,727
Petrobras America Inc.
Number of High Bids Submitted: 34
Sum of High Bids Submitted: $ 29,268,100
Devon Energy Production Company, L.P.
Number of High Bids Submitted: 26
Sum of High Bids Submitted: $ 20,035,500
ConocoPhillips Company
Number of High Bids Submitted: 24
Sum of High Bids Submitted: $ 12,341,000
The top five companies submitting the highest number of high bids for Sale 204:
BP Exploration & Production Inc.
Number of High Bids Submitted: 91
Sum of High Bids Submitted: $ 31,015,727
Statoil Gulf of Mexico LLC
Number of High Bids Submitted: 36
Sum of High Bids Submitted: $ 138,889,688
Petrobras America Inc.
Number of High Bids Submitted: 34
Sum of High Bids Submitted: $ 29,268,100
Devon Energy Production Company, L.P.
Number of High Bids Submitted: 26
Sum of High Bids Submitted: $ 20,035,500
ConocoPhillips Company
Number of High Bids Submitted: 24
Sum of High Bids Submitted: $ 12,341,000
The top five companies submitting the highest dollar amount of total bids for Sale 204:
Statoil Gulf of Mexico LLC
Number of Total Bids Submitted: 40
Sum of Total Bids Submitted: $ 143,145,888
BP Exploration & Production Inc.
Number of Total Bids Submitted: 108
Sum of Total Bids Submitted: $ 55,141,176
Petrobras America Inc.
Number of Total Bids Submitted: 40
Sum of Total Bids Submitted: $ 30,082,600
Shell Offshore Inc.
Number of Total Bids Submitted: 11
Sum of Total Bids Submitted: $ 23,319,996
Devon Energy Production Company, L.P.
Number of Total Bids Submitted: 34
Sum of Total Bids Submitted: $ 21,887,000
