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The NewsRoom
Release: #3811
Date: March 18, 2008
Large Number of Bids Received
for Gulf of Mexico Lease Sales
NEW ORLEANS –
The bids are in for two Gulf of Mexico Federal oil and gas lease sales
to be held tomorrow in New Orleans. The U.S. Department of the
Interior's Minerals Management Service (MMS) Gulf of Mexico Region
announced that 1,057 bids were received from 78 companies on 615
tracts offered in Central Lease Sale 206, and that 58 bids were
received from 5 companies on 36 tracts offered in Eastern Lease Sale
224.
“The number of bids received for both
sales reaffirms the strong commitment of the offshore oil and gas
industry to develop the nation’s oil and gas resources in the Gulf of
Mexico,” said Randall Luthi, MMS Director.
Eastern Sale 224 will be of special
interest to Alabama, Mississippi, Louisiana, and Texas. For the first
time, these states will receive 37.5 percent of the revenues generated
from all newly leased acreage in the Eastern Planning Area. The
revenue sharing provision was mandated by the Gulf of Mexico Energy
Security Act.
“The four Gulf producing States will
see immediate benefits from leases awarded in Sale 224. They will
share in the bonus bids received tomorrow and later in the rents and
any royalties collected,” added Luthi.
Revenue generated from Sale 224
collected by MMS in FY 2008 will be disbursed to the eligible states
beginning in FY 2009.
Reading of the sealed bids will take
place tomorrow, March 19, beginning at 9:00 a.m. for Sale 206 with
Sale 224 immediately following. The St. Charles Club Room, at the
Louisiana Superdome, 1500 Sugarbowl Drive, is the site for the sales.
Preliminary sale statistics for
Central Sale 206 and
Eastern Sale 224 are posted on the MMS website.
The sales will be Webcast through the
Offshore Oil Scouts Association. Real Player will need to be installed in order to run the Webcast.
This information is provided as a service to our customers and does
not imply any endorsement by MMS.
Contact:
Caryl Fagot
504-736-2590
Eileen Angelico
504-736-2595
MMS: Securing Ocean Energy & Economic Value for America
U.S. Department of the Interior
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Last Updated:
05/27/2008,
03:41 PM
Central Time
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