363M

The Minerals Management Service’s (MMS) lease sale last Wednesday in the Central Gulf of Mexico (Sale 182) drew high bids of $363.2 million from 77 companies, with Phillips Petroleum emerging as the highest bidder on a single block at $17.6 million. Dominion Exploration & Production, however, was the heaviest overall spender, shelling out $37.02 million on 37 blocks.