Oil and gas exploration companies offered $7.8 million for the rights to search for oil on 154,610 acres of state land on Alaska’s North Slope and Beaufort Sea, according to results from the 2019 oil and gas lease sale conducted by the Division of Oil & Gas.
The Division of Oil and Gas received three bids encompassing 10,286 acres and totaling approximately $190,350 in bonus bids from Hilcorp Alaska.
The Division of Oil and Gas will offer Special Alaska Lease Sale Area (SALSA) blocks in conjunction with the Fall 2019 oil and gas lease sale, Commissioner Corri A. Feige said.