Six Gulf offshore leases to Houston Exploration

Jul 29, 1997 02:00 AM

July 15, 1997 The Houston Exploration Company has announced that the Minerals Management Services awarded the company six lease blocks in the federal waters of the central Gulf of Mexico. The company was high bidder on these leases at the federal lease sale held in March.
"The addition of these lease blocks further bolsters our inventory of offshore drilling prospects," said James G. Floyd, President and CEO of The Houston Exploration Company. "We recently secured additional jackup rigs, bringing the total available to us to 4; 2 of which are on a long term basis."
Houston Exploration was awarded West Cameron Block 174, West Cameron Block 250, West Cameron 284, East Cameron Block 82 (east half), Vermilion Block 198, and South Timbalier Block 318. The company holds a 100 % working interest in 5 of the 6 blocks and the bid amount for the 6 leases totalled approximately $ 5.4 million.

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