Lease Sale 198
March 15, 2006

Print Report

The Outer Continental Shelf Sale 198 was held in New Orleans on March 15, 2006. Sale 198 resulted in 707 bids, by 82 companies, on 405 tracts, for a total of $978,310,887. The total sum of apparent winning bids was $588,309,791, on approximately 2.1 million acres.

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

·       BP Exploration & Production - 87 bids

·       Hunt Oil Company - 41 bids

·       Dominion Exploration & Production - 38 bids

·       BHP Billiton Petroleum (Deepwater) - 30 bids

·       Hydro Gulf of Mexico, LLC - 28 bids

In terms of total amount exposed, we have:

·        Amerada Hess Corporation - $74.3 million

·        Dominion Exploration & Production - $63.7 million

·       Woodside Energy (USA) Inc. - $61.3 million

·        BP Exploration & Production - $46.9 million

·        Newfield Exploration Company - $36.8 million

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

·       Amerada Hess Corporation - $62.6 million

·       Woodside Energy (USA) Inc. - $47.2 million

·       Dominion Exploration & Production - $41.4 million

·       Newfield Exploration Company - $32.2 million

·       Samson Offshore Company - $27.1 million