US sells oil drilling leases for Gulf of Mexico

Posted on June 20th, 2012 No Comments

The United States auctioned off leases on tracts of land in the Gulf of Mexico to help boost domestic oil production and reduce dependence on oil from foreign sources.

The auction brought in $1.7 billion, with British Petroleum purchasing more than 40 of the available leases. The most expensive single tract went to a Norwegian company for $157 million.

The last time the U.S. auctioned land in the Gulf, the sale brought in $949.3 million. Two months after the auction, one of BP’s offshore oil rigs exploded, causing the biggest oil spill the country has seen.

Many people are still recovering from that spill’s far-reaching effects. If your oil spill insurance claims have been denied, contact the Gulf of Mexico oil spills attorneys of Williams Kherkher at 800-821-1544.

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