Division of Oil and Gas Solicits Bids for Northern Alaska Lease Sales
The fall lease sales include Special Alaskan Lease Sale Areas (SALSA), blocks of contiguous leases offered together with large amounts of related data and seismic information.
Division of Oil & Gas | Alaska Dept. of Natural Resources
ANCHORAGE—The Division of Oil and Gas has announced dates and terms for its upcoming fall oil and gas lease sales. The bid opening for the lease sales will be 9 a.m. on Thursday, November 15, at the Dena’ina Center located at 600 W. 7th Ave. in Anchorage.
The division typically holds two oil and gas lease sale offerings per year, one in spring and one in fall. The fall lease sales include tracts within the Beaufort Sea, North Slope, and North Slope Foothills areawide boundaries. These leases include a primary term of 8 or 10 years and a fixed royalty rate of 12.5 % or 16.667%. The minimum bid is $10 or $25 per acre. Bids will be accepted until 4 p.m. on Tuesday, November 13.
The fall lease sales include Special Alaskan Lease Sale Areas (SALSA) blocks of contiguous leases offered together with large amounts of related data and seismic information. Each block has a primary term of eight years, a fixed royalty rate of 16.667%, and a minimum work commitment. The minimum bid is $25 per acre.
The SALSA blocks are Gwydyr Bay, Harrison Bay, and Storms. The Gwydyr Bay block encompasses 9 leases and is located north of the Prudhoe Bay unit. The Harrison Bay block encompasses 21 leases northwest of the Colville River Unit. The Storms block encompasses 12 leases south of the Prudhoe Bay and Guitar units. For information about the SALSA blocks, visit http://dog.dnr.alaska.gov/documents/resourceevaluation/salsa/salsa_for_public_jul18_final-live.pdf.
To find out more about Division of Oil and Gas lease sales, go to http://dog.dnr.alaska.gov/Services/BIFAndLeaseSale. Interested parties may subscribe to lease sale email announcements at http://list.state.ak.us/mailman/listinfo/DOG.Leasing.