NEW ORLEANS — Bidders largely ignored court challenges to additional petroleum drilling off the coasts of Texas and Louisiana and made $340.9 million in high bids for 381 offshore tracts.
The bid total was the highest in eight years for the federal government’s annual sale of exploration leases in the western Gulf of Mexico. In last year’s sale, the Minerals Management Service accepted $283.4 million on 342 tracts.
Foreign-owned companies were among the top bidders.
Petrobras America Inc., a subsidiary of the Brazilian national oil company Petrobas and a major player in Gulf lease sales since 2004, was the highest total buyer, putting in 34 winning bids valued at $45.5 million.