HOUSTON, March 20 (UPI) -- Marathon Oil Corp. announced it won bids on 15 Gulf of Mexico block leases.
The U.S. Interior Department's Gulf of Mexico oil and gas lease sales reaped a record $3.7 billion.
Marathon won 15 blocks; Anadarko won 20.
Marathon spent an estimated $121 million for 100 percent of two blocks. The other 13 blocks were bid on in conjunction with partners.
The blocks cover a total of about 86,000 acres in the deep-water Gulf of Mexico, ranging in depth from 900 feet to 8,200 feet.
"Building upon Marathon's success at the October 2007 lease sale, these new leases in the deep-water Gulf of Mexico help contribute to our strategy for growing an inventory of prospects for future exploration activity," said Phil Behrman, senior vice president of worldwide exploration for Marathon.
