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BP Returns To GoM Lease Sales

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By Erin Pedigo, Hart Energy
March 20, 2014

High bids for this year’s Gulf of Mexico (GoM) oil and natural gas lease sales, held March 19, were lower than the total number of high bids from last year’s sales, but bidders still showed interest in deepwater tracts.

The Bureau of Ocean Energy Management (BOEM) said that $872 million in high bids was submitted by 43 companies for deep and shallow water, but that amount fell behind 2013’s total of more than $1 billion in high bids.

This year, companies bid on 329 tracts covering more than 1 million ...

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