98-13939. Extension of Post-Sale Evaluation Period for Central Gulf of Mexico Lease Sale 169

[Federal Register Volume 63, Number 101 (Wednesday, May 27, 1998)]
[Notices]
[Page 29023]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-13939]


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DEPARTMENT OF THE INTERIOR

Minerals Management Service


Extension of Post-Sale Evaluation Period for Central Gulf of 
Mexico Lease Sale 169

AGENCY: Minerals Management Service, Interior.
ACTION: Notice to extend post-sale evaluation period for Central Gulf 
of Mexico Lease Sale 169.

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SUMMARY: This notice extends by 30 days, the post-sale evaluation 
period for Central Gulf of Mexico Lease Sale 169. Minerals Management 
Service (MMS) will complete the evaluation of all bids received in this 
sale by July 15, 1998. This action is necessary due to the unusually 
high number of bids received in response to this lease sale.

DATES: The post-sale evaluation period ends on July 15, 1998.

FOR FURTHER INFORMATION CONTACT:
Gary L. Lore, Regional Supervisor, Resource Evaluation, Gulf of Mexico 
Region, telephone [phone].

SUPPLEMENTARY INFORMATION: In the Central Gulf of Mexico Sale 169, held 
March 18, 1998, MMS received 1,188 bids on 794 tracts, 512 of which 
passed to a second phase required for detailed evaluations. This 
continued aggressive bidding activity is, in part, due to the enactment 
of the Outer Continental Shelf Deep Water Royalty Relief Act (Pub. L. 
104-58) but is also influenced by other factors, such as the high 
number of quality prospects on recently expired unexplored tracts in 
newly established deepwater hydrocarbon plays and by the unprecedented 
cost-saving technological advances related to hydrocarbon development 
and production in the Gulf of Mexico's deepwater environment. 
Consequently, MMS is unable to conduct and complete a comprehensive 
evaluation and bid review process within the scheduled 90 days, i.e., 
by June 15, 1998. Under provisions of Sec. 256.47(e)(2), MMS is 
extending the bid evaluation period until July 15, 1997.

    Dated: May 19, 1998.
Chris C. Oynes,
Regional Director.
[FR Doc. 98-13939 Filed 5-26-98; 8:45 am]
BILLING CODE 4310-MR-M