CHUKCHI POOREST OCS SALE IN RECENT MEMORY

The second federal oil and gas lease sale in the Chukchi Sea off Northwest Alaska logged the poorest performance of any major federal sale of frontier acreage in recent memory. Chukchi Sea Sale 126 netted a paltry $7,117,304 in apparent high bids for 28 tracts that received 30 bids. Only five companies showed up for the sale, exposing $7,405,804.

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