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Gulf Oil Tracts Off Southwest Florida Lease To Shell
The Department of Interior sold 180 square miles in 20 tracts off Sarasota and Charlotte Counties for 3.5 million to Shell Oil Company, the only bidder. Seismic data prompted optimism, though most wells found dry. Additional tracts across the central Gulf brought higher bids, with one near the Mississippi River at 133 million and total Gulf leases at 1.28 billion. Shell warned bids could be rejected if deemed too low by the US Geological Survey.
MENTIONED IN THIS ARTICLE
Sarasota
Charlotte Counties
Shell Oil Company
Shell
Florida
Superdome
New Orleans
Department of Interior
Bureau of Land ‘Management
U.S. Geological Survey
Gulf Land
Gulf Region
Mississippi River
Southwest