Mental Health Trust Land Office offers leases for rent, work commitment

Petroleum News Alaska Staff

The Department of Natural Resources Alaska Mental Health Trust Land Office is offering two tracts on the west side of Cook Inlet for oil and lease, based on rental and a work commitment.

The tracts, approximately 11,297 acres, are in township 13 north, range 11 west, Seward Meridian, in the area north of Tyonek. Both tracts have been offered in the past.

Bids will be accepted through July 19; the leases will be awarded on or about July 31.

The Trust Land Office said the two tracts will be leased separately to one bidder based on submission of the first year’s rental for both tracts ($11,298) and a plan describing specific work commitments, including levels and timing of proposed exploration and development expenditures that cover both tracts. If awarded, the agency said, “the lease will be awarded to the party whose exploration and development plan will best serve the interest of the Trust.”

For more information, call Mike Franger at the Trust Land Office (907) 269-8657 or e-mail him at [email protected].

The Trust Land Office held its first oil and gas lease sale in September and received bids on eight tracts, some 40,000 acres of the 200,000 offered.