The US Bureau of Ocean Energy Management (BOEM) said that Wednesday’s oil and gas lease sale for tracts in Cook Inlet, Alaska, attracted $3,034,815 in high bids, all from one company – Hilcorp Alaska.
It was the first lease sale for areas of Alaskan federal waters since 2008 and saw Hilcorp bid on 14 tracts covering 76,615 acres offshore south-central Alaska.
Anchorage-based Hilcorp Alaska is the prime oil and gas producer in Cook Inlet.
The bids will be evaluated for fair market value over the next 90 days.
This auction “Cook Inlet Oil & Gas Lease Sale 244”, which was livestreamed online, is the final one under the 2012-2017 Outer Continental Shelf (OCS) Oil and Gas Leasing Program.
Environmentalists have been critical of Hilcorp for its previous violations of safety regulations in oil and gas production in Alaska.
BOEM, an agency within the Department of the Interior, manages the exploration and development of the nation’s offshore energy and mineral resources.