Central Gulf of Mexico Sale 178-Part 1, March 28, 2001: Sale Summary, Bidding Results and Related Analyses

摘要

Sale 178 Part 1 in the Central Gulf of Mexico (CGOM) was the first sale in that planning area in which the sales royalty suspension volumes and water depth categories were specified in the notice of lease sale. The new lease provisions of the Deep Water Royalty Relief Act of 1995 (DWRRA) were no longer mandatory. In this sale, 547 tracts received 780 bids (an average of 1.43 bids per tract) and 157 of those tracts were in water depths eligible for royalty relief.