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Lease Sales 231, 233, & 225

March 19, 2014

 

Central Sale 231

Central Gulf of Mexico Planning Area Lease Sale 231 was held in New Orleans on March 19, 2014. Sale 231, just completed, resulted in 380 bids, by 50 companies, on 326 tracts, for a total of $1,085,372,484. The total sum of apparent winning bids was $850,809,921, on approximately 1.7 million acres.  The last central sale in 2013, Sale 227 resulted in 407 bids, by 52 companies, on 320 tracts, for a total of $1,595,397,446. The total sum of apparent winning bids was $1,214,675,536, on approximately 1.7 million acres.

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

  • Cobalt International Energy, L.P. - 46 bids
  • TOTAL E&P USA, INC. - 46 bids
  • LLOG Bluewater Holdings, L.L.C. - 36 bids
  • BP Exploration & Production Inc. - 31 bids
  • EPL Oil & Gas, Inc. - 20 bids
  • Gulfslope Energy, Inc. - 23 bids

In terms of total amount exposed, we have:

  • Freeport-McMoRan Oil & Gas LLC - $322.9 million
  • Chevron U.S.A. Inc. - $103.3 million
  • Shell Offshore Inc. - $100.0 million
  • Exxon Mobil Corporation - $55.4 million
  • BP Exploration & Production Inc. - $53.8 million

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

  • Freeport-McMoRan Oil & Gas LLC - $321.4 million
  • Chevron U.S.A. Inc. - $103.3 million
  • Murphy Exploration & Production Company - USA - $49.8 million
  • Shell Offshore Inc. - $45.5 million
  • BP Exploration & Production Inc. - $41.6 million

Western Sale 233

A December agreement between the US and Mexico allows for the completion of Western Planning Area Sale 233. Three bids that were previously submitted for Sale 233 along the disputed boundary with Mexico were opened today. These bids will be added to Sale 233 in OWL and will not be treated as a separate sale. Updated sale results are here.

Eastern Sale 225

There were no bids recieved.