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State to open bids for North Slope lease sales on Nov. 7

(Anchorage, AK) – The Department of Natural Resources announced today that it received bids this week on 122 tracts in the North Slope, North Slope Foothills, and Beaufort Sea oil and gas lease sales, indicating continued strong interest in the state’s hydrocarbon resources. Bid opening will begin at 9 a.m. on Wednesday, Nov. 7 at the Dena’ina Civic and Convention Center in Anchorage.

Especially encouraging, said Division of Oil and Gas Director Bill Barron, is the fact that the North Slope Foothills area, which hasn’t seen any bidding in the past three years, has received bids this year.

“This is a good indicator that our comprehensive outreach efforts are paying dividends,” Barron said. “Over the past two years, we have invested considerable time and energy in informing potential investors worldwide about Alaska’s world-class hydrocarbon basins. We are pleased to see that we have been able to attract this level of interest from investors and industry.”

Similar to last year, the state’s Nov. 7 lease sale will occur on the same date as the federal Bureau of Land Management’s oil and gas lease sale for the National Petroleum Reserve-Alaska. The federal lease sale is at 1 p.m. at the Anchorage Federal Office Building.

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