Bureau of Land Management releases details for NPR-A lease sale

The U.S. Department of the Interior Bureau of Land Management released bidding details for the proposed lease sale in the National Petroleum Reserve-Alaska on Jan. 21.

The proposed notice of sale allowed the agency to get out information on the process and the tracts, officials said. A notice of sale will be published in the Federal Register 30 days prior to the sale date, which BLM officials told PNA was expected to be the first week or two of May.

For area A, considered to have better prospects for oil, the tract size will be one-quarter of a township, approximately 5,760 acres; the minimum bid will be $25 an acre; fixed royalty rate will be 16.67 percent; rental will be $5 an acre. Area A is approximately one-quarter of the sale area in the northeast abutting Harrison Bay and the Colville River.

For area B, tract size will be one-half a township, approximately 11,520 acres; minimum bid will be $5 an acre; royalty rate will be 12.5 percent; rental rate will be $3 an acre.

Acreage is approximate. The agency will calculate actual acreage only for tracts receiving acceptable high bids. The initial term for all tracts is 10 years.

A location for bid opening has not yet been set.