Governor Walker Applauds State Oil and Gas Lease Sales - P.O.W. Report

Friday, December 16, 2016

Governor Walker Applauds State Oil and Gas Lease Sales

Winning bids totaled $17.8 million with second largest North Slope sale

December 14, 2016 ANCHORAGE – Governor Bill Walker applauded the successful lease sales held by the Alaska Division of Oil and Gas today, which received 410 bids from companies and investors for oil and gas leases on state land. Bids for oil and gas leases on the North Slope and Beaufort Sea totaled $17.8 million.

“This is great news—for the state and the industry,” said Governor Walker. “As Alaska grapples with a $3.5 billion deficit, these $17.8 million oil and gas lease sales are the first stage to getting much-needed production in our state.”

On the North Slope, the division received 402 bids on 384 tracts totaling 599,880 acres, making it the second largest sale by acreage since area wide oil and gas leasing began in 1998. Winning bids on the North Slope totaled $16,900,490.

The division received $870,431 for eight bids on seven tracts totaling 33,460 acres in the Beaufort Sea.

“The number of competitive bids the state received shows Alaska is good for business and a stable place to invest,” said John Hendrix, the Governor’s Chief Oil and Gas Advisor.

The Alaska Division of Oil and Gas will finalize today’s lease sales in the coming days and post preliminary results of the bidding on its website later this week.

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