Gulf Oil Tracts Up For Bid
Today is the day that the federal government plans to hold their auction for leases of about 20 million acres of ocean bottom to be used for oil and gas production in the Gulf of Mexico.
The tracts range from 9 to up to 250 miles offshore in the Western portion of the Gulf of Mexico.
The last sale of this kind happened last year in December, and there were bids of more than 324 million dollars.
This lease sale falls under the Bureau of Ocean Energy Management and bidding will happen today at the Superdome.
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