State, federal lease sales in Alaska produce contrasting results

The State of Alaska received a record $121 million in winning bids as 143 companies and investors sought leases in its annual North Slope lease sale on Dec. 6. The US Bureau of Land Management offered 900 tracts covering a record 16,100 sq miles within the National Petroleum Reserve-Alaska the same day and received 7 bids totaling $1.16 million for 125 sq miles of acreage.