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Beaufort Sea, North Slope and North Slope Foothills Areawide Oil & Gas Lease Sales

(Anchorage, AK) - The state received approximately $9.5 million in bonus bids for 672,500 acres in its competitive oil and gas lease sales in the Beaufort Sea and North Slope on Wednesday.

  • 135 bids were received on 129 of the tracts in the North Slope, bringing in over $8.8 million in bonus bids.
  • 21 bids were received on 21 tracts in the Beaufort Sea, bringing in $702,822 in bonus bids.
  • No bids were received in the North Slope Foothills.

The North Slope sale was dominated by Great Bear Petroleum, LLC, a new player in Alaska.  The company won all of the 105 tracts it bid on.  Other bidders in the North Slope sale were AVCG, LLC; ConocoPhillips Alaska, Inc., and Daniel K. Donkel.  The bidders in the Beaufort Sea sale were GMT Exploration Company LLC and Daniel K. Donkel.

“We’re pleased to see that there’s continued industry interest in the exploration potential of the North Slope as evidenced by the results of these lease sales,” said Kevin Banks, Director of the Division of Oil and Gas.  “And I personally want to thank those that bid in these sales and to extend a hearty Alaskan welcome to Great Bear Petroleum.”

Preliminary sales results are available on the Division of Oil & Gas website, www.dog.dnr.alaska.gov/oil, or at the division’s office at 550 W. 7th Ave, Suite 1100, in Anchorage.

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