The US Bureau of Ocean Energy Management (BOEM) on December 30 held an oil and gas lease sale for blocks in Cook Inlet, Alaska. The sale generated just one bid for one tract. The bid, in the amount of $63,983, was submitted by Hilcorp Alaska LLC.
Lease sale terms for Cook Inlet include stipulations to protect biologically sensitive resources, mitigate potential adverse effects on protected species and avoid potential conflicts associated with other Inlet users.
The Hilcorp bid will go through a 90-day evaluation process to ensure the public receives fair market value before a lease is awarded, and a Department of Justice review of antitrust considerations.
