Offshore update ///

Eastern GOM Sale 181 bid evaluations. The U.S. DOI’s Minerals Management Service (MMS) announced on January 29 completion of the bid evaluation process for Lease Sale 181, held December 5, 2001. There were 95 tracts receiving bids, and MMS awarded 95 leases totaling $340,474,113 in high bids. All were in water depths greater than 1,600 m (5,249 ft) – the deepest tract bid was Lloyd Ridge Block 446 in 9,538-ft water. The highest bid accepted on a tract was for $26,015,040 by Anadarko for Lloyd Ridge 91; the second highest for $22,135,759 by Shell for Lloyd Ridge 399; and the third highest by Shell for $21,111,888 for Lloyd Ridge 446. Seventeen companies participated in the sale. The top four in terms of dollars spent were: Shell (28 tracts); Anadarko (26); Kerr-McGee (16); and Marathon (14).

Log in to view this article.

Not yet a subscriber?  Get started now for immediate access to this content and more.



Already a subscriber but don’t have an online account? Contact our customer service.