US gets 407 bids for Central Gulf sale

Lease sale: US says 407 bids recieved for event Wednesday

US regulators have recieved 407 bids in an acreage sale for the central portion of offshore areas in the Gulf of Mexico.

The Bureau of Ocean Energy Management said Lease Sale 227 will kick off at 9 am local time Wednesday in New Orleans at the Mercedes-Benz Superdome, offering up almost 39 million acres off Louisiana, Mississippi and Alabama.

The acreage includes over 7000 blocks from three to 230 nautical miles offshore in water depths over 11,000 feet.

It will be the second Central Gulf lease sale since new licencing was suspended in the wake of the Macondo disaster in 2010.

The quantity of bids, however, lags behind the number brought forth for Lease Sale 216/222, which in July 2012 attracted 593 offers in the first sale since the 2010 incident.

That sale was the fourth-largest such event ever, bringing in $1.7 billion in high bids.

The Western Gulf Lease Sale 229 was held in November 2012 and garnered $137.8 million in total high bids in deepwater-intensive bidding.

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