Oil companies bid $1.6 billion for Gulf drilling rights BENNY QUETELL PRIVATE EQUITY,VENTURE CAPITAL,HEDGE FUNDS INVESTMENT BANKING

Dozens of companies offered tens of millions of dollars for the rights to drill on 306 tracts in the central Gulf of Mexico, in a lease sale Wednesday that underscored a revival of oil and gas drilling in the region and affirmed the industry’s interest in deeper territory.

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