Gulf of Mexico Oil & Gas Lease Sale Nets Nearly $110 Million in High Bids

The Interior Department recently announced the results of Western Gulf of Mexico Lease Sale 238  offshore Texas.  The lease sales garnered ~$110 million in high bids for 81 tracts covering more than ~434,000 acres.

Of the 167 blocks available for lease that are located or partially located within 3 statute miles of the maritime and continental shelf boundary with Mexico (and subject to the terms of the U.S.-Mexico Transboundary Hydrocarbon Reservoirs Agreement), 24 received bids.