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IMPROVEMENTS NEEDED IN SELECTING
Recommendations to the Congress
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94th Congress Acre Leased acreage goals acreage offerings acres offered adequate analysis basis Bid Bids bidders bonus bids bonus estimates bonus revenue estimate competition cost-benefit analysis costs December 11 deep stratigraphic tests determine discounted cash flow draft report estimates for Sale exist factors fair market value Federal frontier areas geophysical Government Gulf of Mexico high bid hydrocarbons identify inadequate data included industry bids Interior lease offerings leasing program market value return Monte Carlo Method obtain OCS lands OCS Sale 35 offered for lease oil and gas Outer Continental Shelf percent porosity postsale presale values production prospect areas receive fair market reliability rating resource development potential resource potential results of Sale sale area sale results sale tracts Santa Barbara Secretary seismic stratigraphic drilling Survey officials tract by tract Tract Received tract selection process tract values tracts leased tracts offered valuation value tracts weak to fair