Lease Sale 182
March 20, 2002

The Outer Continental Shelf Sale 182 was held in New Orleans on March 20, 2002. Sale 182 resulted in 697 bids, by 77 companies, on 506 tracts, for a total of $442,441,036. The total sum of apparent winning bids was $363,210,467, on approximately 2.55 million acres.

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

·        Magnum Hunter Production - 64 bids

·        BP Exploration & Production - 56 bids

·       Spinnaker Exploration Company, L.L.C. - 56 bids

·        Dominion Exploration & Production - 50 bids

·        Kerr-McGee Oil & Gas Corporation - 42 bids

In terms of total amount exposed, we have:

·        Dominion Exploration & Production - $40.4 million

·        BP Exploration & Production - $32.5 million

·       Spinnaker Exploration Company, L.L.C. - $32.2 million

·        Chevron U.S.A. - $28.7 million

·        BHP Petroleum (Deepwater) - $20.0 million

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

·        Dominion Exploration & Production - $37.0 million

·        Spinnaker Exploration Company, L.L.C. - $28.8 million

·        BP Exploration & Production - $27.2 million

·       Chevron U.S.A. - $26.6 million

·        Phillips Petroleum Company - $17.5 million