Preliminary North Slope lease sale results available

    2022 June Activity Map. Full map can be seen in link at bottom of article.

    Juneau, Alaska (KINY) - The Alaska Division of Oil and Gas 2022 Fall North Slope lease sale results are live.

    The preliminary results from the sale, which was conducted online, can be found at Final results and more details will be posted as they become available.

    At this annual Fall lease sale, the Division offered acreage across three “areawide” sale locations:

    •    The North Slope Areawide received 63 bids on 61 tracts. The average bonus bid was $37.28 per acre for a total of $4,538,008.98 on 121,412 acres.

    •    The Beaufort Sea Areawide received 11 bids on 9 tracts. The average bonus bid was $35.51 per acre for a total of $575,146.32 on 17,212 acres.

    •    The North Slope Foothills Areawide received zero bids.

    “Alaskans will be pleased to see the oil resource that seeds critical investments like our permanent fund is continuing to enjoy international interest and support,” said Acting Commissioner, Akis Gialopsos. “Governor Dunleavy and his policy of keeping Alaska open for business are producing dividends for the people of this State.”

    DNR said the results are a significant uptick in activity and revenue over the last year with eleven different participants and bids which put this sale in the top ten highest average dollars per acre since 1998, when the areawide program began.

    This is also the first time since 2018 that the Division has seen competing bids on the same tracts with tracts adjacent to the Quokka unit and on the north edge of the Prudhoe Bay unit receiving competing bids.

    The North Slope is seeing one of its busiest exploration and delineation seasons in years and is looking forward to more being permitted for the next season.

    This includes Oil Search Alaska’s newly formed Quokka and Pikka units, long-reach drilling successes by ConocoPhillips in the Colville River unit, on-going well testing at the Alkaid Unit by Great Bear Pantheon, and unit expansion efforts of the Prudhoe Bay unit by unit operator, Hilcorp North Slope.

    Summaries of recent North Slope activity can be found on the June 2022 activity map.

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