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Brief -- Alaska Lease Sales

The U.S. Bureau of Land Management (BLM) generated $788,680 at an oil and gas lease sale from the National Petroleum Reserve in Alaska (NPR-A) on Wednesday. The state will receive 50% of the bid receipts, or $394,340. The sale offered 143 tracts comprising about 1.4million acres. One company, ConocoPhillips Alaska Inc., submitted six bids for the right to develop oil and gas lease tracts in the reserve. The highest bid of $199,706, or $31.91 per acre, was offered for tract 2015-H-165. Currently, 210 leases cover 1.7 million acres in the NPR-A. A map and table with complete sale results by tract appear on the BLM Alaska websitewww.blm.gov/ak. Separately, the Alaska Division of Oil and Gas received 134 bids from companies and investors interested in obtaining leases during the state's North Slope, North Slope Foothills and Beaufort Sea oil and gas lease sales. Winning bonus bids totaled $9.51 million. According to preliminary sale results, the division received 134 bids from Accumulate Energy Alaska Inc. and Burgundy Xploration LLC, bidding together,70 & 148 LLC, and ConocoPhillips Alaska on 131 tracts encompassing 186,400 acres in the North Slope sale area. The division did not receive bids for the North Slope Foothills or Beaufort Sea sale areas. Details are available athttp://dog.dnr.alaska.gov.

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