OPEC Basket 24.28 23.48 n.a. Arab Light n.a.
All prices are indicative only.
OGI accepts no responsibility for their accuracy. And, according to all estimates, this is going to be a battle of big guns, with most of the majors vying for the best blocks in an area that analysts say has a high potential for harboring significant hydrocarbon reserves. Another 53 donut hole blocks that fell within the Central Gulf planning area will be leased at the same time in a concurrent Central Gulf of Mexico Sale 178 Part 2. Although the USA has not yet signed the Law of the Sea Convention, these 311 Gap blocks are to be subject to the provisions of the Law of the Sea Convention's royalty payment stipulation, which was contained in the sale notice and are contingent on the US Senate agreeing that the US should become a signatory. Mexico has made no effort as yet to explore its sizable sector of the Western Gap, but several seismic acquisition companies have conducted surveys over the US sector, most notably PGS and Veritas, and their data is almost guaranteed to be a factor on which many of the companies bidding on Wednesday are basing their block selections and the amount of their bids.