$1.7B Gulf Lease Sale Signals Post-Deepwater Resurgence

Law360, New York (June 20, 2012, 4:22 PM EDT) -- The U.S. raised $1.7 billion in Wednesday's Gulf of Mexico oil and gas leasing round, the fourth-highest total ever and a sign that energy companies — including BP PLC, which won 43 of 48 tracts it bid on — are returning, however warily, two years after the Deepwater Horizon spill ground new drilling to a halt.

The area near the 2010 Deepwater Horizon well explosion was among the hottest on the map, attracting several eight-figure bids and the auction's highest single bid, Statoil OAO's $157 million...
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