Chevron bids high on Green Canyon 944

Central Gulf of Mexico Lease Sale 206 began today with a large bid by Chevron Corp. for Green Canyon Block 944.

The energy giant's high bid of over US$55 million was one of 10 bids submitted for the tract, far outstripping a US$26 million bid from a partnering between Brazilian state oil company Petrobras and Oklahoma-based Devon Energy. ExxonMobil also bid on the block. Green Canyon Block 945 proved equally as popular as nearby Green Canyon Block 944, also attracting 10 bids. United States Interior Secretary Dirk Kempthorne opened the sale by praising the corporations working in the Gulf of Mexico, and thanking them "on behalf of America" for the technology they develop and the energy security they provide. The reading of the bids for Lease Sale 206 will be followed by Lease Sale 224, which offers blocks in the Eastern Gulf of Mexico.

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