The U.S. sold $391.1 million in offshore oil leases.
It was the smallest amount of money that the government has taken in on any mineral lease sale since its stepped-up leasing program began in 1983. Last July, a lease sale covering the same amount of acreage brought $945 million in high bids. For the most recent sale, more than 27 million acres was offered off the Texas coast, and bids were received on 1.1 million acres in 210 tracts.
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