GulfSlope Energy, Inc. announces that it was apparent high bidder for two blocks covering a total of 10,000 acres in the United States Department of the Interior, Bureau of Ocean Energy Management’s (“BOEM”) region-wide Gulf of Mexico Lease Sale 251.
These blocks include:
- Vermillion Area, South Addition Block 376 (5,000 acres), which is located in approximately 300 feet of water; and
- Eugene Island Area, South Addition Ship Block 371 (5,000 acres), which is located in approximately 400 feet of water.
John N. Seitz, Chief Executive Officer, commented, “We are very pleased with the potential addition of these two blocks to our position of more than 55,000 acres in the Gulf of Mexico. Both blocks hold attractive subsalt targets and the Vermilion South Addition area has become an important focus area for us, with GulfSlope currently drilling at our Canoe Prospect and planning underway for a subsalt test at our Corvette Prospect.”
As announced by the BOEM on August 15, 2018, Lease Sale 251 generated $178,069,406 in high bids for 144 blocks covering 801,288 acres in federal waters of the Gulf of Mexico. A total of 29 companies participated in the lease sale, submitting $202,667,923 in total bids. The BOEM will review the bids received in the lease sale and finalize awarding of the blocks in the next few months following completion of their review.
