US EditionFirst lease sale in Alaska petroleum reserve in years draws strong interest despite pending lawsuits
The record $163 million lease sale attracted 430 bids for 1.3 million acres, signaling strong industry confidence despite ongoing legal challenges and environmental concerns.
- On Wednesday, the U.S. government held its most successful sale ever of oil and gas drilling rights in the National Petroleum Reserve-Alaska, attracting $163 million in winning bids from major industry players.
- Fulfilling a mandate from President Donald Trump, the sale marks the first since 2019 and reverses previous Biden-era restrictions on drilling in the region.
- Companies submitted 430 bids across 1.3 million acres, with major participants including Repsol and Shell helping the total surpass the previous 1999 record of $104 million.
- Rosemary Ahtuangaruak of Grandmothers Growing Goodness criticized the sale, stating "For us, caribou aren't expendable; they are central to our subsistence, culture, and food security." A Monday court ruling by District Court Judge Sharon Gleason could affect some bids.
- Revenue from the sale is split 50-50 between the federal government and Alaska, though Alaska Governor Mike Dunleavy's proposal to shift the state's portion toward the Permanent Fund may trigger legal battles over fund usage.
30 Articles
30 Articles
Alaska Oil Lease Sale Draws 430 Bids, Nets Record $163.7 Million in Revenue
The U.S. Department of Interior’s first oil lease sale in the National Petroleum Reserve–Alaska since 2019 drew more than 430 bids during a March 18 auction that netted $163.7 million. It was a record amount for a federal public lands lease sale. At least 10 companies participated in the hours’ long auction, bidding on tracts that span 1.3 million acres of the 5.5 million acres the Trump administration has opened to oil and gas exploration on th…
Arctic Alaska oil and gas lease sale draws record bidding, despite legal clouds
Two animals in the Teshekpuk Caribou Herd are seen on June 27, 2014, in the National Petroleum Reserve in Alaska. A right-of-way agreement reinstated through a federal court order protects the Teshekpuk Lake area and the habitat used by the caribou herd named for the lake. But in an oil and gas lease sale, the Trump administration auctioned off tracts in that right-of-way area nonetheless. (Photo by Bob Wick/U.S. Bureau of Land Management)A cont…
Sierra Club Statement on Western Arctic Oil & Gas Lease Sale - CleanTechnica
WASHINGTON, D.C. — Today, the Trump Administration held a massive auction for oil and gas drilling rights in the largest contiguous area of national public lands in the United States. The auction in the Western Arctic, mandated by the One Big Beautiful Bill Act, resulted in 1,334,967 acres leased for ... [continued] The post Sierra Club Statement on Western Arctic Oil & Gas Lease Sale appeared first on CleanTechnica.
Associated Press News
First lease sale in Alaska petroleum reserve in years draws strong interest despite pending lawsuits
The first oil and gas lease sale held in years in the National Petroleum Reserve-Alaska has been touted by officials as the strongest to date.
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