Lease Sale 181
December 5, 2001

The Outer Continental Shelf Sale 181 was held in New Orleans on December 5, 2001. Sale 181 resulted in 190 bids, by 17 companies, on 95 tracts, for a total of $458,936,089. The total sum of apparent winning bids was $340,474,113, on approximately 547,200 acres.

This was the first Eastern Sale since 1988.

The big players, in terms of number of tracts bid on, are:

·        Shell Offshore, Inc. - 48 bids

·        Anadarko Petroleum Corporation - 33 bids

·       Spinnaker Exploration Company, L.L.C. - 26 bids

·        Kerr-McGee Oil & Gas Corporation - 22 bids

·        Dominion Exploration & Production - 22 bids

In terms of total amount exposed, we have:

·        Anadarko Petroleum Corporation - $167.4 million

·        Shell Offshore, Inc. - $127.9 million

·       Kerr-McGee Oil & Gas Corporation - $43.4 million

·        Marathon Oil Company - $33.4 million

·        Dominion Exploration & Production - $17.0 million

In terms of total amount of high bids, we have:

·        Anadarko Petroleum Corporation - $136.0 million

·        Shell Offshore, Inc. - $109.6 million

·        Kerr-McGee Oil & Gas Corporation - $34.7 million

·       Marathon Oil Company - $28.3 million

·        EOG Resources, Inc. - $8.3 million