Lease Sale 185
March 19, 2003

Print Report

The Outer Continental Shelf Sale 185 was held in New Orleans on March 19, 2003. Sale 185 resulted in 793 bids, by 74 companies, on 561 tracts, for a total of $414,738,677. The total sum of apparent winning bids was $315,531,229, on approximately 2.8 million acres.

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

·        Kerr-McGee Oil & Gas Corporation - 69 bids

·        BHP Billiton Petroleum (Deepwater) Inc. - 65 bids

·       Newfield Exploration Company - 62 bids

·        Magnum Hunter Production, Inc. - 59 bids

·        Chevron U.S.A. - 56 bids

In terms of total amount exposed, we have:

·        Kerr-McGee Oil & Gas Corporation - $31.9 million

·        Chevron U.S.A. - $25.1 million

·       Union Oil Company of California - $24.1 million

·        Murphy Exploration & Production Company - $23.7 million

·        Dominion Exploration & Production - $18.8 million

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

·        Kerr-McGee Oil & Gas Corporation - $28.2 million

·        Chevron U.S.A. - $21.7 million

·        Murphy Exploration & Production Company - $21.5 million

·       Union Oil Company of California - $18.7 million

·        Dominion Exploration & Production - $14.3 million