BP highest bidder at Western Gulf of Mexico lease sale

8/20/2014

BP highest bidder at Western Gulf of Mexico lease sale

NEW ORLEANS -- BP was the apparent high bidder on 27 of 32 bids it submitted at the Western Gulf of Mexico lease sale in New Orleans for a success rate of 84%. Total amount of winning BP bids was $22,837,729.

Shell bid on a total of one block and was the apparent high bidder on Alaminos Canyon Block 902 with a bid of $1.75 million. Competition for Alaminos Canyon Block 902 included Stone Energy with a bid of $1.06 million. The acquisition of this key block strengthens Shell’s existing position in Perdido, where to date the operator has drilled 11 exploration and appraisal wells, and has current production coming from 14 wells in the Tobago, Silvertip and Great White ultra deepwater fields.

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