Alaska sells 149 North Slope tracts

Alaska sold 149 tracts for $10.6 million at a North Slope area wide oil and gas lease sale Nov. 15. A consortium of Phillips Alaska Inc., AEC Oil and Gas Co., and Chevron USA submitted the sale's high bid, $669,024.


Alaska sold 149 tracts for $10.6 million at a North Slope area wide oil and gas lease sale Nov. 15.

The state Department of Natural Resources said bidders filed 158 valid offers, exposing $10.9 million.

A consortium of Phillips Alaska Inc., AEC Oil and Gas Co., and Chevron USA submitted the sale's high bid, $669,024, for tract 0577. That was $116.15/acre, also the high for the sale. The minimum bid was $5/acre.

A partnership of Anadarko Petroleum Corp. and AEC Oil and Gas Co. led the sale, submitting $1,454,668 in high bids for 42 tracts. Phillips, AEC, and Chevron exposed $5,788,396 for 32 tracts.

Andadarko Petroleum Corp. offered $382,649 in high bids for 15 tracts, BP Exploration (Alaska) Inc. $881,894 for 13 parcels, and AVCG LLC $754,560 for 11 tracts.

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