MMS SETS JUNE 26 BEAUFORT SEA LEASE SALE

The U.S. Minerals Management Service has scheduled a Beaufort Sea lease sale June 26 in Anchorage. Sale 124 will offer 3,416 blocks covering nearly 21 million acres (OGJ, Dec. 3, 1990, p. 35). The tracts lie 3140 miles off Alaska in 63,280 ft of water but mostly in less than 300 ft. Leases will carry 10 year terms and one-eighth royalties. Barry Williamson, Minerals Management Service director, said, "The Beaufort Sea continues to be one of the more prospective areas off Alaska. "We are

June 3, 1991

The U.S. Minerals Management Service has scheduled a Beaufort Sea lease sale June 26 in Anchorage.

Sale 124 will offer 3,416 blocks covering nearly 21 million acres (OGJ, Dec. 3, 1990, p. 35). The tracts lie 3140 miles off Alaska in 63,280 ft of water but mostly in less than 300 ft. Leases will carry 10 year terms and one-eighth royalties.

Barry Williamson, Minerals Management Service director, said, "The Beaufort Sea continues to be one of the more prospective areas off Alaska.

"We are optimistic there will be significant industry participation in this sale."

MMS will not offer 1 million acres near Point Barrow that are in the spring lead area, the first open water to be exposed by receding ice. Migratory bowhead whales use those waters.

The spring lead area also was excluded from Beaufort Sea lease sales in 1979, 1982, 1984, and 1988. The sales resulted in the award of 574 leases, of which 467 are still in effect. MMS said lessees have drilled 21 wildcats, eight of which were "producible."