10/28/2010

The Division of Oil and Gas has released the results of its oil and gas lease sales in the Beaufort Sea and North Slope. The state received $9.5 million in bonus bids for 672,500 acres in lease sales. 135 bids were received on 129 of the tracts in the North Slope, bringing in over $8.8 million in bonus bids. 21 bids were received on 21 tracts in the Beaufort Sea, bringing in $702,822 in bonus bids. No bids were received in the North Slope Foothills.

The North Slope sale was dominated by Great Bear Petroleum, LLC. It is new to the state. It won all of the 105 tracts it bid on in the sale. Division of Oil and Gas says the other bidders in the North Slope sale were AVCG, LLC, ConocoPhillips Alaska and Daniel Donkel. The bidders in the Beaufort Sea sale were GMT Exploration Company, LLC., and Daniel Donkel.

Filed under: News by Joe Nicks