State Receives Three Bids in Cook Inlet Oil & Gas Sale
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ANCHORAGE—The Division of Oil and Gas received three bids encompassing 10,286 acres and totaling approximately $190,350 in bonus bids from Hilcorp Alaska, LLC according to preliminary results from the 2019 Cook Inlet Areawide oil and gas lease sale.
The preliminary sale results will be posted at www.dog.dnr.alaska.gov. The Division did not receive bids in the 2019 Alaska Peninsula Areawide lease sale.
“We are pleased to see bid activity in the Cook Inlet lease sale. We recognize the focus of bidders has been on the North Slope in recent years. Nevertheless, significant investment is made to sustain current Cook Inlet production, while exploration activities continue to inform and support future development,” said Sara Longan, Deputy Commissioner of the Department of Natural Resources.
Following bid adjudication, leases will be awarded to successful bidders to explore and potentially develop the leases during an eight-year lease term.
Korean Steel Supplier and Gas Buyer Signs Up for Alaska LNG
Glenfarne and POSCO finalized a strategic partnership to supply steel to build the Alaska LNG pipeline and a Heads of Agreement for the Korean manufacturer to buy gas.
Operator Overhaul for Ketchikan Shipyard: AIDEA Puts JAG at the Helm
The Alaska Industrial Development and Export Authority welcomes JAG Marine Group to replace Vigor Alaska as operator of the Ketchikan Shipyard.
State Nets $17.5M in North Slope Lease Sale
Eleven companies bid $17.5 million for 287 tracts, covering 519,000 acres, for the largest state North Slope lease sale in a decade.
Also in this issue: building a company and planning an exit strategy; several ESOPs, and UAS’ foray into a new model for tuition. Enjoy!