NEWS: Rep. Tarr Pleased With Results of Oil and Gas Lease Sales

Rep. Geran Tarr

Results Show Continued Interest for Oil and Gas Exploration in Alaska

December 14, 2016

Anchorage – Earlier today, the preliminary results of three oil and gas lease sales were released by the Alaska Division of Oil and Gas.  $17.8 million in winning bids were received during the annual North Slope, North Slope Foothills, and Beaufort Sea areawide lease sales.

“These lease sale results shows a continued willingness by companies to invest in Alaska’s tremendous natural resources.  This is despite the industry-wide downturn brought on by the continued low price of oil,” said incoming Resources Committee Co-chair Rep. Geran Tarr (D-Anchorage).  “I will be watching with interest the exploration activities that result from these leases sales, with the hope that they result in development projects to get Alaska’s oil and gas to market.”

In total, the Alaska Division of Oil and Gas received 410 bids for leases on state lands.  The North Slope sale resulted in $16.9 million in winning bids, which is the third largest such sale since 1998.  The Beaufort Sea sale totaled $870,431 in winning bids.  There were no bids received for acreage in the North Slope Foothills.

For more information, please contact House Majority Coalition Press Secretary Mike Mason at (907) 444-0889.



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