Vol. 12, No. 16 Week of April 22, 2007
Kristen Nelson
Leasing moved farther offshore in the Shell-dominated Beaufort Sea outer continental shelf lease sale held April 18 in Anchorage. Total high bids were $42,165,195 in Minerals Management Service sale 202. All but a handful of tracts receiving bids are out beyond existing OCS leases.
Shell Gulf of Mexico Inc. accounted for $39,272,708 of the $42 million high bids, 93 percent, and took 49 of 92 tracts.
This is the second MMS Beaufort Sea sale in a row dominated by Shell, which accounted for $44 million of $46 million in high bids at sale 195, held in March 2005, the company’s return to Alaska (see story in April 3, 2005, issue of Petroleum News). Shell had the 10 top bids at this year’s sale, with the highest at $14,104,239, an average of $6,122 per hectare for Flaxman Island tract 6609. All of those 10 highest bids were for Flaxman Island blocks, the easternmost area of the sale receiving bids. read more
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