Offshore Lease Sale 59 Affected by Differing Views on Oil and Gas Potential
RCED-83-9
Published: Mar 24, 1983. Publicly Released: Mar 25, 1983.
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Highlights
GAO reviewed the factors that may have caused the high bid-rejection rate and the low bonus revenues in the Outer Continental Shelf (OCS) Lease Sale 59.
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BidsCompetitionFair market valueGas leasesLeasing policiesOffshore gas resourcesOffshore oil resourcesOil leasesProjectionsReal estate sales