Exploration & Production

Alaska licensing round draws few bids

The latest United States Natural Petroleum Reserve Alaska oil and gas leasing sale on Wednesday attracted few bids
By Staff reporter 8 December 2017 0 28725

The latest United States Natural Petroleum Reserve Alaska (NPR-A) oil and gas leasing sale on Wednesday attracted few bids despite the huge amount of acreage on offer as environmental concerns inhibited interest.

Only seven bids were received for about 32,300 hectares, less than 1% of the 4.2 million hectares offered, according to Reuters.

ConocoPhillips Alaska, with Anadarko Petroleum, submitted the seven bids, amounting to $1.16 million, for blocks in the NPR-A.

Environmentalists believe the state’s Arctic National Wildlife Refuge should remain closed to oil and gas drilling.

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