The Bureau of Land Management announced today that it signed and issued leases on nine of the tracts that received qualifying bids from the first-ever oil and gas lease sale for the Coastal Plain of Alaska’s Arctic National Wildlife Refuge.
This means the BLM has now issued leases on 437,804 acres of some of the most highly prospective land on Alaska’s North Slope, with the U.S. Geological Survey estimating nearly 8 billion barrels of recoverable oil on the Coastal Plain.
Lease awardees include Alaska Industrial Development and Export Authority (AIDEA): 7 tracts; Knik Arm Services, LLC: 1 tract, and Regenerate Alaska, Inc.: 1 tract.
Full results from the Jan. 6 lease sale are available at https://www.blm.gov/programs/energy-and-minerals/oil-and-gas/leasing/regional-lease-sales/alaska.
“These leases reflect a solid commitment by both the state and industry to pursue responsible oil and gas development on the Alaska’s North Slope in light of recent assessments,” said BLM Alaska State Director Chad Padgett. “While any further actions on the ground will require additional environmental analysis, this is a hallmark step and a clear indication that Alaska remains important to meeting the nation’s energy needs.”