Oil giants Exxon Mobil and BP were outgunned at the recent U.S. Department of the Interior’s lease sale of land in the central Gulf of Mexico by Houston Energy and its partner Red Willow Production Co.
Houston Energy and Red Willow put down $52.2 million for the Block 107 deepwater tract in Walker Ridge area. The Houston-based consortium also was the highest bidder in Outer Continental Shelf Sale 235 held in March in New Orleans.
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