MMS issues final Western Gulf lease sale notice
  by: OilOnline
  Monday, July 21, 2003

The Minerals Management Service has issued the Final Notice of Lease Sale 187 in the Western Gulf of Mexico scheduled for Aug. 20. The notice includes a continuation of recent royalty measures designed to increase domestic gas and oil production. These include royalty incentives for deep gas production and deepwater oil and gas production. The sale will encompass 3,996 unleased blocks covering 21.7 million acres offshore Texas and deeper waters off Louisiana. The blocks are located from 9 to 221 miles offshore in water depths from 26 feet to more than 9,843 feet. Minimum bonus bid for shallow water blocks is $25 per acre. Deeper water blocks will require a minimum bid of $37.50 per acre.