The site where students compete, learn, and make money Tuesday, July 15, 2008
DJIA: -92.65 NASD: 2.84 10-YR: -0.036
 
 
 
 
     
 
     

Gulf of Mexico Exploration Shows Some Life

Submitted by lucas20 on Wed, 03/19/2008 - 19:25.

Tomorrow, the U.S. Department of the Interior's Minerals Management Service (MMS) Gulf of Mexico Region will hold a oil and gas lease sale. In preparation for the sale, 1,115 bids were received from 83 companies. The bids will be made public in a reading tomorrow, after which, the sales will be completed. Never seen a sale? Well, you're in luck, the sale is streamed live over the internet beginning at 9am tomorrow morning.

For those of you unfamiliar -- The Minerals Management Service (MMS) is part of the US Dept of the Interior. It manages the mineral resources on Federal and Indian lands as well as the subsea-surface lands of the Outer Continental Shelf "in an environmentally sound and safe manner." It also collects and distributes the revenue.

E&P companies active in the Gulf region include: ConocoPhillips (NYSE: COP), Chevron Corporation (NYSE: CVX), McMoRan Exploration (NYSE: MMR), Apache Corporation (NYSE: APA), Anadarko Petroleum (NYSE: APC), Valero Energy Corporation (NYSE: VLO), Devon Energy (NYSE: DVN).


»

Gulf oil...

Submitted by THE O-MAN on Mon, 03/31/2008 - 13:38.

A side note: The Gulf of Mexico has historically produced very high quality, light oil, however their fields go into decline do not tend to have a long life span.

»