By the OGJ Online Staff
HOUSTON, Aug. 1 -- The Alaska Division of Oil and Gas, Juneau, has scheduled North Slope and Beaufort Sea lease sales Oct. 24.
The sales will begin at 8:30 a.m. at the Loussac Public Library in Anchorage.
The North Slope area-wide sale will offer 1,225 state tracts totaling 5.1 million acres between the Canning River and the Arctic National Wildlife Refuge on the east and the Colville River and National Petroleum Reserve-Alaska on the west. The southern boundary is the Umiat Meridian baseline and the northern border the Beaufort Sea coastline.
Leases will be for 7 years and minimum bids are $5/acre. About 700 tracts will carry a one-sixth royalty and the rest one-eighth.
The Beaufort Sea area-wide sale will offer 573 tidal and submerged tracts totaling nearly 2 million acres between the Canadian border and Point Barrow.
About 125 of those tracts will be offered for 10-year terms and a one-eighth royalty. The rest will be for 7 years and a one-sixth royalty. Minimum bid all Beaufort tracts is $10/acre.
