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NEWS BULLETIN

June 20, 2014 --- Vol. 20, No. 35June 2014

State calls for competitive exploration license bids

In a finding issued today the director of the Alaska Division of Oil and Gas has called for competitive bids for a southwest Cook Inlet exploration license.

In April 2013 the division received a proposal for an exploration license onshore and offshore in the Chinitna Bay and Iniskin Bay area on the southwest side of Cook Inlet. In May 2013 the state issued a notice of intent to evaluate the proposal and asked for comments and competing proposals.

One competing proposal was received.

The June 20 decision, signed by Director of the Division of Oil and Gas Bill Barron, offers a four-year oil and gas exploration license covering some 169,000 acres to the winner of the competitive bid process. The division said an invitation to bid was sent to the applicants concurrent with issuance of the decision. The two applicants have 20 days to return the bid application.

The division is not releasing either the name of either bidder.

The minimum work commitment bid is $1 million.

- KRISTEN NELSON

See story in June 29 issue, available online Friday, Sept. 27, at www.PetroleumNews.com

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