The U.S. Minerals Management Service said Monday that it accepted high bids totaling $690 million from oil and gas companies leasing 328 offshore tracts in the Central U.S. Gulf of Mexico.

Some 70 companies bid for 348 tracts during a Central Gulf oil and gas lease sale held in March. The MMS, which regulates offshore hydrocarbon exploration and production, and collects revenue from it for the federal government, awarded 328 tracts. The agency, which is part of the U.S. Interior Department, also rejected $12.7 million in high bids on 19 tracts because it deemed them insufficient. Also, one successful high bidder forfeited its lease, the MMS said in a release.

The U.S. unit of Royal Dutch Shell PLC (RDSA) led the lease sale with $153.6 million in high bids for 39 tracts. A BP PLC (BP) unit came in second with $77 million for 25 tracts. Marathon Oil Company (MRO), Noble Energy Inc. (NBL) and BHP Billiton (BHP) were also among the top bidders.

-By Angel Gonzalez, Dow Jones Newswires; 713-547-9214; angel.gonzalez@dowjones.com