WTI - W&T Offshore emerges as apparent high bidder on two blocks in Gulf of Mexico lease sale
2023-04-04 17:47:22 ET
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W&T Offshore ( NYSE: WTI ) said Tuesday it was named the "apparent high bidder" on two blocks in the Gulf of Mexico Lease Sale 259.
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The lease sale was held by the Bureau of Ocean Energy Management on March 29, 2023.
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W&T said it submitted bids in the most recent GOM lease sale on two shallow water blocks, Eugene Island South Addition block 371 and Eugene Island South Addition block 387.
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W&T said it will pay about $340,000 in total for the leases combined if the company gets the award.
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The blocks have a lease term of five years and an 18.75% royalty.
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W&T expects to receive the final award results over the next 90 days.
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W&T Offshore emerges as "apparent high bidder" on two blocks in Gulf of Mexico lease sale