Considerably

Both May and June Numbers Flat to Slightly Higher

June bidweek activity heightened considerably Thursday astraders sprinted toward the finish line, either trying to wind upeverything Thursday or leave only a few tail-end deals to completetoday. A marketer who made six Chicago citygate deals in a verytight range on either side of $2.30 said June prices were justbarely higher despite a gain of more than a nickel in the JulyHenry Hub futures contract. He thought the lack of volatility wasdue to many people leaving early for a long weekend. If moretraders were still around and working there would be more input andbreadth to the ranges.

May 28, 1999

Texas Lease Sale Results Down on Soft Prices

The latest lease sale by the Texas General Land office raised$9.2 million Tuesday, down considerably from previous sales of thisspring. The highest bids for tracts were in the bays along thecoast, with the highest single bid from Sabco Oil & Gas Corp.of more than $1.11 million for 320 acres in Corpus Christi Bay. Thesecond highest bidder was Petsec Energy Inc., totaling $275,572 foran 1,135-acre High Island tract off Jefferson County in the Gulf ofMexico. The third highest bidder was Seneca Resources Corp. for a320-acre gulf tract off Brazoria County. The Seneca bid was$236,309.

October 9, 1998
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