Devon wins 20 tracts in Gulf

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Published: August 21, 2008

Energy companies placed $487.3 million in winning bids for the right to drill in the western Gulf of Mexico, knowing they may get a chance later to explore in other areas that have been off limits for decades.

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Chip Minty, a spokesman for Devon Energy Corp., in confirming the Oklahoma City-based company bid in this week's auction, declined to discuss details until the award is made public. Devon was awarded 20 tracts for $6.7 million, the Minerals Management Service said late Wednesday.

The agency takes bids twice a year on Gulf leases, he said.

The lease sale Wednesday was the first since President Bush last month lifted an executive ban on oil drilling off coasts.

From Staff and Wire Reports


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Related Topics: U.S. Government, Science and Technology, Technology, Domestic Policy, Political Policy, Politics, U.S. Politics, Oil Production and Refining, Energy Technology


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