Twenty-two firms bid $124 million for leases.
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The firms bid for oil and gas drilling rights in the Gulf of Mexico off Florida, the Interior Department said. Interior Secretary Donald P. Hodel said in a statement that the department had expected a total of only $60 million in high bids, “so the results are particularly encouraging.” The highest bid at the auction in New Orleans came from Amoco Corp.--$7.17 million for a tract off the Florida Panhandle near previous discoveries around Mobile Bay, the department said. In all, 114 bids totaling $155 million were submitted. The 82 tracts receiving bids cover 450,258 acres.
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