Western Gulf Lease Sale Revenue Hits 10-Year Low; BP High Bidder

摘要

Revenue raised in last week's Western Gulf of Mexico lease sale fell to a 10-year low, reflecting the steep drop in oil and gas prices over the last year and a demand-dampening recession. In all, the 27 companies participating in Lease Sale 210 in New Orleans put up a total of $115.5 million in high bids for exploration rights to 162 blocks in federal waters in the western portion of the US Gulf of Mexico.