A new round of lease sales for blocks in the western planning area of the Gulf of Mexico brought in $109,951,644 in total high bids.

There were 93 bids from 14 companies for 81 blocks covering 433,823 acres, the US Bureau of Ocean Energy Management (BOEM) said.

The sale made 4,026 offshore Texas blocks available for lease. Those blocks are 9 to 250 miles from the coast and in water depths ranging from 16 to 10,975 feet.

BOEM said the sale could lead to the production of 116 to 200 million billion barrels of oil and 538 to 938 billion cubic feet of natural gas.

The event was held on Wednesday in New Orleans.

While the total number of bids topped the 61 received last year, the total value in apparent high bids only rose by about $7 million, Oil and Gas Journal said.

BOEM received 24 bids for the 167 blocks either on or partially within three statute miles of the maritime and continental shelf border with Mexico.

Leases for these blocks are subject to the terms of the US-Mexico Transboundary Hydrocarbon Reservoirs Agreement.

Big bidders included BP Exploration and Production, Australia-based BHP Billiton Petroleum and ConocoPhillips.

BP was the high bidder on 27 of the 32 bids it submitted with bids totaling $22,837,729.

BHP placed 14 bids worth a combined $21,887,500.

ConocoPhillips placed 10 bids worth a total of $23,423,000, including the largest single bid of $16,788,800 for Alaminos Canyon Block 431.


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