Proposed Notice of Sale Issued for Western Gulf of Mexico OCS Sale 174

Today, the U.S. Department of the Interior's Minerals Management Service (MMS) is making available the Proposed Notice of Sale for Western Gulf of Mexico (GOM) Sale 174. The sale is scheduled for August 25, 1999, in New Orleans, Louisiana.

Sale 174 encompasses 3,642 unleased blocks, about 19.81 million acres, in the Western GOM Outer Continental Shelf Planning Area offshore Texas and in deeper waters offshore Louisiana. The blocks are located from 9 to 200 miles offshore in water depths ranging from 8 meters to more than 3,000 meters. There are 2,120 blocks in water depths of 200 meters or more.

This is the fourth sale in the Western Gulf of Mexico, and the seventh sale overall, in which blocks receiving bids in water depths of 200 meters or more are eligible for consideration under provisions of the Deep Water Royalty Relief Act. The Proposed Notice of Sale offers all blocks in water depths of less than 800 meters for a minimum bid of $25 per acre. The minimum bid on blocks in water depths of 800 meters or deeper has been changed to $37.50 per acre.

The Proposed Notice of Sale will be posted on the MMS Website at http://www.mms.gov. In addition, copies of the document are available from MMS's Gulf of Mexico Regional Office, Public Information Unit, 1201 Elmwood Park Boulevard, New Orleans, Louisiana 70123 (504) 736-2519; toll free (1-800-200-GULF).

Statistical Information (Sale 174)
Size:	3,642 Unleased blocks; 19.81 million acres
Primary Lease Terms:	5 Year - Water depths less than 400 meters - 1,693 Blocks 8 Year - Water depths between 400-800 meters - 306 Blocks 10 Year - Water depths 800 meters or deeper - 1,643 Blocks
Minimum Bids:	$25.00 per acre or fraction thereof - Water depths less than 800 meters - 1,999 Blocks $37.50 per acre or fraction thereof - Water depths 800 meters or deeper - 1,643 Blocks
Annual Rental Rates:	$5.00 per acre or fraction thereof - Water depths less than 200 meters - 1,522 Blocks $7.50 per acre or fraction thereof - Water depths 200 meters or deeper - 2,120 Blocks
Royalty Rates:	16 2/3% Royalty - Water depths less than 400 meters - 1,693 Blocks 12 1/2% Royalty - Water depths 400 meters or deeper - 1,949 Blocks
Royalty Suspension Areas:	200-400 Meter Royalty Suspension Area - 171 Blocks 400-800 Meter Royalty Suspension Area - 306 Blocks 800 Meter and Greater Royalty Suspension Area - 1,643 Blocks

MMS is the Federal agency that manages and regulates the Nation's natural gas, oil and other mineral resources on the Outer Continental Shelf; and collects, accounts for, and last year disbursed about $6 billion in revenues from offshore Federal mineral leases and from onshore mineral leases on Federal and Indian lands.

MMS's Website Address: www.mms.gov
24 Hour Fax-on-Demand Service: 202-219-1703

FOR RELEASE:	April 8, 1999	Barney Congdon
		(504) 736-2595
		Caryl Fagot
		(504) 736-2590
		Anne-Berry Wade
		(202) 208-3985