BLM Receives Final Payments for Alaska Bids


Alaskan North Slope
(Click to Enlarge)

The Bureau of Land Management has received the final payments on high bids made by Anadarko Petroleum Corporation, ConocoPhillips Alaska, Inc., Petro-Canada (Alaska) Inc., and FEX L.P. for tracts within the National Petroleum Reserve-Alaska during BLM's Sept. 2008 lease sale.

Petro-Hunt, L.L.C., also a participant in the lease sale has relinquished all its bids after notifying BLM in late December that falling oil prices made it uneconomical for it to pursue oil production at this time within the National Petroleum Reserve-Alaska. Petro-Hunt was the high bidder on 72 lease tracts (822,151 acres) for $13,730,603, but forfeited its deposit of $2,746,154.

Leases were issued to the following:
 

COMPANY                                                   LEASES        ACREAGE          TOTAL HIGH BIDS   

Anadarko Petroleum (100%)
 1
 11,416
   $285,400
ConocoPhillips (100%)
33
314,670
$7,024,727
Petro-Canada (100%)
17
194,073
$1,304,463
FEX L.P. (100%)
11
125,415
$4,020,360
Anadarko (50%), Petro-Canada (50%)
13
154,607
$3,741,796
FEX L.P. (60%), Petro-Canada (40%)
 3
 34,242
   $854,457

 

Each of the companies paid BLM the balance of the bid, annual rental and processing fee on their leases. The leases are for 10 years.

"The BLM is encouraged by the commitment of these companies to energy production in the National Petroleum Reserve-Alaska," said BLM-Alaska State Director Tom Lonnie.

 

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Foreman Fleet Operations
Expertise: Logistics Management|Operations Management
Location: Midland, TX
 
Environmental Inspector
Expertise: Environmental Engineer|Regulatory Compliance
Location: Williamsport, PA
 
Brownfield Project Manager
Expertise: Pipeline Engineering|Project Management
Location: Houma, LA
 
search for more jobs

Brent Crude Oil : $48.6/BBL 1.12%
Light Crude Oil : $46.34/BBL 1.24%
Natural Gas : $2.9/MMBtu 2.35%
Updated in last 24 hours