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Central Gulf of Mexico Lease Sale 208

The United States Department of the Interior Minerals Management Service (MMS www.mms.gov) held the Central Gulf of Mexico (CGOM) Lease Sale 208 on 18 March 2009, in downtown New Orleans, Louisiana.  A total of 6,458 blocks were offered in the sale, covering more than 34.6 million acres offshore Louisiana, Mississippi, and Alabama.  The sale also included approximately 4.2 million acres, located in the south-eastern part of the CGOM Planning Area, known as “181 South”, which has not been offered for lease since 1988.

Map:  Central Gulf of Mexico Lease Sale Area including “181 South” Portion.     Source: MMS

Lease Sale - bid results

The Central Gulf of Mexico Sale 208 took place on 18 March 2008 and resulted in 70 companies placing 476 bids on 348 blocks totalling USD933,649,315.  The sum of all high bids was USD703,048,523. 

The block that received the greatest number of bids was Walker Ridge 134 (WR134) in NG15-06 protraction area with a total of six bids (see red block on map below).  The highest bid for a single block was for USD65,611,235 for Mississippi Canyon 721 (MC721) by Shell Gulf of Mexico Inc.

 

Map:  Blocks receiving bids – the highest number of bids was received on Walker Ridge block 134.   Source:  PetroView®

Shell Gulf of Mexico Inc submitted 39 of the highest bids totalling USD153,631,475 (see tables below).

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Top ten companies based on total number of high bids

Company

Total High Bids

Sum of all High Bids (USD)

Shell Gulf of Mexico, Inc.

39

153,631,475

BHP Billiton Petroleum (Deepwater) Inc.

28

50,393,232

BP Exploration & Production Inc.

27

77,466,559

Ecopetrol America Inc.

26

20,558,066

Noble Energy, Inc.

24

55,442,147

Chevron U.S.A. Inc.

21

22,400,166

Repsol E&P USA Inc.

20

48,545,024

Marathon Oil Company

16

62,441,178

ExxonMobil Corporation

15

24,484,400

StatoilHydro Gulf Properties Inc.

14

2,970,308

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Top Ten Companies Based on Sum of High Bids

Company

Total High Bids

Sum of all High Bids (USD)

Shell Gulf of Mexico Inc.

39

153,631,475

BP Exploration & Production Inc.

27

77,466,559

Marathon Oil Company

16

62,441,178

Noble Energy, Inc.

24

55,442,147

BHP Billiton Petroleum (Deepwater) Inc..

28

50,393,232

Statoil Gulf of Mexico LLC

9

49,276,000

Repsol E&P USA Inc.

20

48,545,024

ExxonMobil Corporation

15

24,484,400

Chevron U.S.A. Inc.

21

22,400,166

Ecopetrol America Inc.

26

20,558,066

Approximately 42% of all bids received were for blocks located in deepwater areas (>1600 metres), totalling USD381,586,363.  The deepest block(s) receiving a bid was Lloyd Ridge 324, Lloyd Ridge 547 and Lloyd Ridge 548 at 3,036 metres. 

Below is a table that shows the bidding statistics by water depth in the Central Gulf of Mexico.

Bidding statistics by water depth in the Central Gulf of Mexico

Water Depth (metres)

Blocks w/bids

Acres receiving bids

Sum of high bids (USD)

Sum of all bids (USD)

0 - 200

95 (27%)

443,191.68

31,207,913

33,995,993

200 - 400

10

54,117.62

12,999,843

15,739,321

400 - 800

29

157,101.08

50,761,824

64,069,489

800 - 1600

69

393,745.92

298,809,265

438,258,149

1600 - 2000

39

224,640.00

88,789,722

124,419,157

> 2000

106

610,560.00

220,479,956

257,167,206

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