Please ensure Javascript is enabled for purposes of website accessibility

$1.2 Billion More of the Gulf of Mexico Leased by Big Oil

By Tyler Crowe - Apr 4, 2013 at 7:07PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

With newly minted leases in the Gulf of Mexico, who came out with the best property?

Last week, the U.S. Bureau of Land Management auctioned off over 7,300 blocks of oil and gas exploration leases in the Gulf of Mexico. Despite that only 400 of the blocks were bid upon, the government walked away with a nice $1.2 billion to pad its coffers. 

In this video, Fool.com contributor Tyler Crowe gives a run down of the results of the most recent auction. Some companies spent a lot more than others, and one company -- BP (BP -0.25%) -- was peculiarly absent from the event. Also, Tyler explains why Statoil (EQNR -2.67%) and its joint venture partner Samson Oil & Gas were willing to fork over almost $82 million for one block in the Walker Ridge section of the Gulf.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Royal Dutch Shell plc Stock Quote
Royal Dutch Shell plc
RDS.A
Exxon Mobil Corporation Stock Quote
Exxon Mobil Corporation
XOM
$87.55 (2.23%) $1.91
BP p.l.c. Stock Quote
BP p.l.c.
BP
$28.28 (-0.25%) $0.07
Anadarko Petroleum Corporation Stock Quote
Anadarko Petroleum Corporation
APC
Statoil ASA Stock Quote
Statoil ASA
EQNR
$33.83 (-2.67%) $0.93

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
316%
 
S&P 500 Returns
112%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 07/04/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.