Third Gulf oil lease auction in 8 months nets $82.7M
The federal auction attracted competitive bids for offshore tracts near the south Texas coast, producing $82.7 million in high bids.
The federal government’s offshore oil lease auction in the Gulf of America on Wednesday produced $82.7 million in high bids. It was the third Gulf lease auction in eight months, with participating companies showing strong interest in waters just off the south Texas coast.