No Bids Received for Oil and Gas Leases in the Alaska Peninsula and Bristol Bay Area

May 9, 2013

The latest State sponsored oil and gas lease sale that covered large sections of the Alaska Peninsula and Bristol Bay did not receive any bids from exploration companies. The results of the Alaska Peninsula lease sale, as well as the Cook Inlet Areawide sale, were announced Wednesday in Anchorage.

While the Alaska Peninsula sale didn't attract any interest, the Cook Inlet sale did prompt some bidders. 32 bids were received on 28 tracks that encompass over 145-thousand acres. The high bids will bring in about $4.5-million dollars to the State of Alaska.

Wednesday's lease sale also included 26 tracts on Augustine Island for use in developing a geothermal project. Just one bid was received on one track. You can see the preliminary results from Wednesday's lease sales on the website of the Alaska Department of Natural Resources.