State Receives Three Bids in Cook Inlet Oil & Gas Sale
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.
Become an Industry Sponsor
In This Issue
The Unbroken Supply Chain
Alaskans have some experience both with isolation and sudden emergencies. Earthquakes, volcanic eruptions, seasonal flooding, and wildfires seldom schedule their arrival. And while emerging technology and developing infrastructure have allowed Alaska to become more connected, as Alaskans we know we’re still at the end of the road—even more so for those living beyond the road in Alaska’s remote communities.