NEWS BULLETIN

November 07, 2013 --- Vol. 19, No. 68November 2013

State, federal lease sales draw $8.5 million

State and federal oil and gas lease sales held yesterday in Anchorage produced some $8.5 million in apparent high bids for the Alaska Department of Natural Resources, Division of Oil and Gas, and the federal Bureau of Land Management.

The sales were dominated by NordAq Energy, a local independent, with combined bids in two sales of $4.3 million for 269,461 acres.

The state had three areawide sales scheduled: Beaufort Sea, North Slope and North Slope Foothills, but no bids were received for the Foothills sale.

The Beaufort Sea sale drew one bidder, 70 &148 LLC of Denver, which bid on two tracts for a total of $104,806.40.

The North Slope sale drew eight bidders, 90 bids on 89 tracts, with an apparent high-bid total of $5,513,208.84 on 162,163 acres.

Major bidders included NordAq Energy which took 52 tracts, paying $2,309,054.40 for 74,880 acres; AVCG LLC which took three tracts for $1,117,644.80; ConocoPhillips Alaska which took 14 tracts, 35,840 acres for $947,916.80; Great Bear Petroleum Ventures II LLC which took 12 tracts, 30,720 acres, for $774,553.60; and 70 & 148 LLC which took five tracts, a total of $231,622.40 for 8,320 acres.

NordAq Energy was also the major bidder in BLM’s National Petroleum Reserve-Alaska oil and gas lease sale, which saw three bidders or bidding groups place 22 bids on 22 tracts, a total of $2,885,153 for 245,293 acres.

In addition to NordAq which bid $2,026,368 on 17 tracts, almost 195,000 acres, ConocoPhillips which took two tracts, bidding $586,736 for a total of 15,289 acres.

—KRISTEN NELSON

See story and map in Nov. 10 issue, available online at 11 a.m., Friday, Nov. 8, at www.PetroleumNews.com


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