BOEM Nets $1.2B In Gulf Of Mexico Oil Block Auction

Law360, New York (March 20, 2013, 7:47 PM EDT) -- The Bureau of Ocean Energy Management has netted $1.2 billion in high bids from a Wednesday auction of Central Gulf of Mexico blocks, which saw 52 oil and gas companies jockeying for leasing rights, according to agency documents.

Known as Lease Sale 227, the New Orleans-based auction included 7,299 blocks that covered about 38 million acres, according to a sale day statistics sheet. More than 400 bids were made, with the highest one — at $81.7 million — coming from a joint venture of Samson Offshore...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.