Happy Thursday!
We always enjoy a follow-up story,
and we did say, if we heard anything else on this Alaskan wonderland! The recent offshore oil and gas lease sale
was a bust for Alaska’s Cook Inlet, see our Blog in January for details. Last October, we blogged on how the U.S. BLM
showed interest in the National Petroleum Reserve- Alaska (NPR-A), and they were considering opening more
of it for an upcoming oil and gas lease sale.
Well, the lease sale has come and gone and here’s the skinny!
Did anyone
happen to read the Oil & Gas Journal’s OGJ Daily Update Newsletter on
March 19, 2026, their article titled, “Federal NPR-A lease sale hits record for
revenues and tracts receiving bids”? In
the article, it speaks on how U.S. Department of Interior (DOI) and its Office
of Bureau of Land Management (BLM) have published the results from the NPR-A
Oil and Gas Lease Sale which happened yesterday, March 18, 2026. The NPR-A Lease Sale reached a new
record of $164.7 million. Proposed were 625
tracts of land of the which is over 5.5 million acres around one fifth of the
NPR was offered for lease. Only eleven
companies threw their hats into the ring, nonetheless 430 bids on 187 tracts encompassing
over 1.3 million acres the participants tendered offers, too. Some of the successful high bidders were
North Slope Exploration LLC (78 leases), Repsol E&P/Shell Frontier LLC (43 leases),
ConocoPhillips Alaska Inc. (30 leases), ExxonMobil Alaska (24 leases), and Epoch
Oil & Gas LLC (8 leases). The State of
Alaska is a winner, too, and they will get around $82 million of the $164.7
million from the lease sale and starting mid-2030 they will acquire more of the
lease sale proceeds. We will let you know, if we hear anything else on this
American asset! If you would like to
read more of the Oil & Gas Journal’s article, please click the link:
Federal
NPR-A lease sale hits record for revenues and tracts receiving bids | Oil &
Gas Journal.
Don’t forget
to check out our ESC website or
contact us via the email in the Blog, if you have a hydrocarbon liquids
project you would like to see get off the ground or you would like to see
what’s under your feet to help with your emissions!
The Houston Livestock and Rodeo is winding down, so remember
travel with care.
Two days until the Lamar H.S. Band Mattress Sale; keep
posted for details.
We hope you have a wonderful evening!