The NewsRoom
Release: #3722
Date: August 22, 2007

Western Gulf of Mexico Lease Sale 204 Attracts $ 289,953,066 in High Bids

NEW ORLEANS — Western Gulf of Mexico Oil and Gas Lease Sale 204, held today in New Orleans by the U.S. Department of the Interior’s Minerals Management Service (MMS), attracted $ 289,953,066 in high bids. A total of 47 companies participated in the lease sale, in which MMS received 358 bids on 282 tracts. The sum of all bids received totaled $ 369,496,840. The sale offered 3,338 tracts comprising approximately 18 million acres offshore Texas.

“The success of this lease sale once again demonstrates industry’s commitment and interest in the Gulf,” said MMS Director Randall Luthi. “The bidding in this sale is an indicator that the Gulf of Mexico will continue to be a strong source for the nation’s energy production in the future.”

The high bid for each block will go through a strict evaluation process to ensure the public receives fair market value before a lease is awarded.

The top five companies submitting the highest dollar amount of high bids for Sale 204:

 Company

Number of High Bids
Submitted

Sum of High Bids
Submitted

 Statoil Gulf of Mexico LLC

36

        $ 138,889,688

 BP Exploration & Production Inc.

91

             31,015,727

 Petrobras America Inc.

34

             29,268,100

 Devon Energy Production Company, L.P.

26

             20,035,500

 ConocoPhillips Company

24

             12,341,000

The top five companies submitting the highest number of high bids for Sale 204:

 Company

Number of High Bids
Submitted

Sum of High Bids
Submitted

 BP Exploration & Production Inc.

91

        $  31,015,727

 Statoil Gulf of Mexico LLC

36

          138,889,688

 Petrobras America Inc.

34

            29,268,100

 Devon Energy Production Company, L.P.

26

            20,035,500

 ConocoPhillips Company

24

            12,341,000

The top five companies submitting the highest dollar amount of total bids for Sale 204:

 Company

Number of High Bids
Submitted

Sum of High Bids
Submitted

 Statoil Gulf of Mexico LLC

40

        $ 143,145,888

 BP Exploration & Production Inc.

108

            55,141,176

 Petrobras America Inc.

40

            30,082,600

 Shell Offshore Inc.

11

            23,319,996

 Devon Energy Production Company, L.P.

34

            21,887,000

Media Contacts:

  
Eileen Angelico, 504-736-2595
   Caryl Fagot, 504-736-2590

MMS: Securing Ocean Energy & Economic Value for America
U.S. Department of the Interior


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