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Offshore drill rigThe US Department of Interior’s Bureau of Ocean Energy Management (BOEM) on Wednesday held a lease sale for approximately 21 million acres of US outer continental shelf open for development in the western Gulf of Mexico. The total of all bids came to $157.68 million for 653,00 acres. That’s a far cry from the June sale, which brought in $2.6 billion on leases for 2.4 million acres.

The roster of bidders totaled just 13 companies, including Exxon Mobil Corp. (NYSE: XOM), ConocoPhillips (NYSE: COP), Chevron Corp. (NYSE: CVX), Apache Corp. (NYSE: APA, Anadarko Petroleum Co. (NYSE: APC), BHP Billiton plc (NYSE: BHP), and Plains Exploration & Production Co. (NYSE: PXP). The June auction attracted 56 bidders.

Notably absent from the list is BP plc (NYSE: BP), which paid nearly $240 million for new leases at the June auction…

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2 responses to “

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