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Mental Health Trust Receives over $365,000 from Oil/Gas Lease Sale

ANCHORAGE (September 20, 2013) – Bids totaling $365,502 were recently received for oil and gas leases on two tracts in Cook Inlet and the Kenai Peninsula owned by the Alaska Mental Health Trust Authority. The successful bidder was Hilcorp Alaska LLC.

The September 19 lease sale was the ninth sale held by the Trust Land Office, which manages nearly one million acres of land on behalf of The Trust. Income from Trust land and The Trust’s cash investments (which are managed by the Permanent Fund Corporation) is used to fund programs throughout Alaska that benefit people with mental illness, developmental disabilities, chronic alcoholism, and Alzheimer’s disease and related dementia.

Details of the recent sale include:
• 10 tracts offered totaling 51,108 acres
• 2 bonus bids received totaling $365,502 (note: this amount is preliminary)
• 2 tracts to be leased totaling 12,286 acres

 

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