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Oil companies vie for prime acreage in US Gulf of Mexico

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Listen: Oil companies vie for prime acreage in US Gulf of Mexico

While winning bids at the 2015 US Central Lease Sale 235 were down from 2014, prices per acre for the ability to potentially produce oil offshore were among the highest of the last 20 years. Starr Spencer, senior editor for oil news, evaluates how the US Bureau of Ocean Energy Management's annual sale changed in 2015, now that the US is facing increasingly rising oil production despite cuts to capex and lower crude prices.


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