Western Gulf of Mexico lease sale draws weak response

Journal Article · Mon Aug 24 04:00:00 EDT 1992 · Oil and Gas Journal; (United States)

OSTI ID:7257654

Koen, A D

This paper reports that puny participation in the federal lease sale for the western Gulf of Mexico reflected a lack of open acreage on attractive prospects and the crisis sweeping the U.S. offshore oil and gas industry. Thirty-eight companies participating in the Minerals Management Service's Outer Continental Shelf Sale 141 offered 81 bids for 61 tracts in the western gulf planning area. That was the fewest bids offered in a western gulf sale since operators offered 52 bids for 41 tracts at Sale 105 in August 1986. The only Gulf of Mexico minerals sale to attract less bonus money was the MMS sulfur and salt sale in the central gulf in February 1988 in which $20.8 million was exposed.

• OSTI ID: 7257654
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 90:34; ISSN 0030-1388; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
03 NATURAL GAS
030600 -- Natural Gas-- Economic
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
294003 -- Energy Planning & Policy-- Natural Gas
ATLANTIC OCEAN
BIDS
CARIBBEAN SEA
ECONOMIC ANALYSIS
ECONOMICS
GULF OF MEXICO
INDUSTRY
LEASING
NATURAL GAS INDUSTRY
OFFSHORE OPERATIONS
PETROLEUM INDUSTRY
PROSPECTING
SEAS
SURFACE WATERS