MMS rejects $18 million in GOM bidsAgency values 16 tracts at $54.4 million; take drops to $297.6 million Petroleum News Houston Staff
The U.S. Minerals Management Service has rejected nearly $18 million in high bids from last March’s Central Gulf of Mexico Lease Sale 185 because they failed to meet the government’s standard for “fair market value” on 16 shallow and deepwater tracts offered in the sale.
The rejections cut the gove....
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