Big Oil Flocks to Alaska in Record-Setting Petroleum Lease Sale

Big Oil Flocks to Alaska in Record-Setting Petroleum Lease Sale

The first lease sale in the National Petroleum Reserve-Alaska in seven years became the most successful auction in the area ever, as oil majors bid on hundreds of tracts, signaling they haven’t given up on Alaska’s petroleum resources despite development and court challenges. This week’s oil and gas lease sale for the National Petroleum Reserve in Alaska, one of five mandated in the next decade under the Trump Administration’s One Big Beautiful …

Buoyed by big projects and a big lease sale, Alaska oil companies project optimism

An oil rig engaged in winter exploration at ConocoPhillips' Willow project is seen in 2019. The Willow project is in the National Petroleum Reserve in Alaska and expected to begin production in 2029, accoording to the company. Willow production is expected to peak at 180,000 barrels per day. The company is devoting $8.5 billion to $9 billion to Willow, a company official said on Thursday. (Photo provided by ConocoPhillips)Representatives of majo…

Oil and pragmatism: Alaska sets a record in concessions. Majors ignore appeals. - Economic Scenarios

The world is once again on the hunt for oil, and some states are taking advantage. The first sale of leases in the Alaska National Petroleum Reserve in