By OGJ editors
HOUSTON, Apr. 19 -- The Minerals Management Service ([email protected]) Thursday announced an oil and gas lease sale in Cook Inlet in federal waters 3-30 miles offshore. The 2 million acres, in 30-650 ft of water, extend from south of Kalgin Island to northwest of Shuyak Island.
The sale, opening relatively unexplored areas, will be held with Alaska's Cook Inlet sale May 19. MMS estimates that offshore potential could exceed 1 tcf of conventionally recoverable natural gas.
Economic incentives include a primary term of 8 years, minimum bids of $25/hectare, $5/hectare annual rental rates, and royalty suspension volumes for both oil and natural gas.
