DOI Take For Offshore Leases Drops To $115M In '09

Law360, New York (August 19, 2009, 4:10 PM EDT) -- The U.S. Department of the Interior took in more than $115 million worth of high bids in a sale of oil and natural gas offshore leases for federal land on the western part of the Gulf of Mexico Wednesday, a drop from the $487 million taken in last year when the government offered almost twice as many tracts.

The sale, held in New Orleans, came on the heels of a separate offering for oil and gas leases in Utah that attracted $1.1 million Tuesday, bringing the...
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