IOGCC leasing data goes online

Petroleum News Alaska Staff

In a step to improve access to state land with the potential for oil and natural gas production, the Interstate Oil and Gas Compact Commission has compiled leasing information for 27 states. States lease certain parcels of public land for oil and gas exploration. Leasing bonuses and royalties from production on these lands generate millions of dollars in revenue that fund a myriad of state programs.

States employ a variety of methods to conduct leases, such as competitive bidding and auctions. By providing the public with additional information on the leasing process, the IOGCC hopes to increase interest in state lands as an option for oil and gas development.

The State Land Leasing Table on the IOGCC's web site at www.iogcc.state.ok.us shows the leasing method, notice method, minimum bidding requirements, bidder qualification standards, statutory references and acreage restrictions. The table also provides contacts for additional information.