While the Alaska Industrial Development and Export Authority enlarged its investments in Arctic National Wildlife Refuge oil leases, Cook Inlet gas producer HEX expanded into the North Slope with rival bids on a couple tracts.
While a federal oil and gas lease sale in Cook Inlet fizzled, a sale in the National Petroleum Reserve–Alaska attracted eleven interested companies.
Hilcorp was the sole bidder on five onshore and near-shore tracts that brought an estimated $872,072 in cash bonus to the state treasury.
The next federal offshore oil and gas leasing program will reconfigure Alaska waters into a new High Arctic planning area.