The Bureau of Ocean Energy Management (BOEMRE) held its Central Gulf of Mexico lease sale on March 20, 2013, generating $1.2 billion for the U.S. government.  Approximately 52 companies submitted 407 bids on 320 tracts off the coasts of Louisiana, Alabama and Mississippi. The tracts, covering more than 1.7 million acres and are in water depths of nine to more than 11,115 feet. OAG360 notes that deepwater blocks in water depths of 1,600+ meters were 41% of the total 320 blocks that received bids.

All of the leases carried an 18.75% royalty rate...


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