The State of Alaska has received about $9.5 million in the state's North Slope oil and gas lease sale that took place on Nov. 18.
The Alaska Division of Oil and Gas said it received a total of 134 bids from companies and investors interested in obtaining leases during the North Slope, North Slope Foothills and Beaufort Sea oil and gas lease sales.
According to preliminary sale results, the division received bids for on 131 tracts encompassing 186,400 acres in the North Slope sale area. The North Slope Foothills or Beaufort Sea sale areas did not receive any bids.
Bidders included Accumulate Energy Alaska Inc. and Burgundy Xploration LLC, bidding together, 70 & 148 LLC and ConocoPhillips' (NYSE: COP) Alaska subsidiary.
The results are "very encouraging in light of the current low oil prices," said Corri Feige, director of the state's Division of Oil and Gas.
“Today’s lease sale results show continued interest in exploring the North Slope’s shale oil resources, and they indicate that industry realizes the vast energy potential held in this region,” Feige said in a statement.
The Division of Oil and Gas said the results listed come directly from the bid opening at the lease sale, before it has been determined that winning bidders are qualified and the bids valid. Preliminary post-adjudication results are expected to be posted on the Division’s website on Nov. 19.
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