Lease sale generates nearly $31 million in revenue

Five companies submitted winning bids totaling $30,961,806 for the right to develop oil and gas lease tracts in the National Petroleum Reserve-Alaska (NPR-A). The winning bids covered 150 tracts on approximately 1,656,574 acres of the 23 million-acre reserve. There are already 335 leases totaling over 3 million acres in NPR-A. Winning bids were received from Anadarko Petroleum, ConocoPhillips Alaska, Petro- Canada, FEX and Petro-Hunt.

The U.S. Geological Survey estimates that the entire NPR-A could contain as much as 9.3 billion barrels of recoverable oil and 59.7 trillion cubic feet of natural gas.

Return to newsletter headlines