1. HOME
  2.  | 
  3. Industry
  4.  | 
  5. Government
  6.  | State Receives Three Bids in Cook Inlet Oil & Gas Sale

State Receives Three Bids in Cook Inlet Oil & Gas Sale

May 23, 2019 | Government, Monitor, Oil & Gas

©Ken Graham Photography.com

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.

Current Issue

Alaska Business November 2024 Cover

November 2024

Related Articles
Alaska Business Magazine November 2024 cover
In This Issue
Natural Resource Development + Southeast
November 2024
In this month’s issue we explore a range of developments in Alaska’s natural resource industry, from AI in the oil field and lumber grading to finding and defining critical minerals and building up tourism infrastructure in Southeast. Also in this issue: architecture in Southeast, a grain reserve in the Interior, and an invitation to all employers to rethink their approach to hiring those with a criminal record. Enjoy!
Share This