Subscription
access
Cook Inlet and Alaska Peninsula Areawide 2011 Lease
Sale
results
The Alaska Department of Natural Resources (ADNR), Division of Oil and Gas (DO&G), finalised the Cook Inlet Areawide Lease Sale, on 22 June 2011.
A total of 112 bids were placed on 109 blocks which include both on and offshore blocks, covering a total of 575,202 acres. There were a total of 815 tracts available for leasing within the Lease Sale Area, located within the Kenai Peninsula Borough, the Matanuska-Susitna Borough and the Municipality of Anchorage.
Ten of the 11 companies engaged in the bidding successfully secured ownership of at least one new block, with Apache Alaska Corporation (100%) securing 92 of the total 109 obtained. The sale generated over USD 11.2 million in bids with Apache Alaska Corporation, who exposed over USD 8.9 million, as the overall high bidder in the sale.
This year’s sale represents a dramatic increase in activity compared to the 2010 Cook Inlet Areawide Sale in which only 36 blocks out of 815 total received bids. This equates to 4.4% of the available blocks in 2010 being leased, compared with 13.3% of the available blocks leased in 2011.
This increase in activity reflects companies’ renewed interest in Cook Inlet resources. There is a rising interest in the potential natural gas fields located throughout the basin. There is also an interest in Coalbed methane (CBM) due to the improved completion technologies. Oil can still be a target of exploration within the Cook Inlet basin but it would call for companies to explore for stratigraphic traps rather than the traditional structural traps already found in the Tertiary sediments of the basin.
Cook Inlet Areawide Sale 2011. Source: PetroView®
| Division of Oil & Gas Cook Inlet 2011 Areawide Lease Sale preliminary results | ||||
|---|---|---|---|---|
| Bidding company | Number of tracts bid | Total of all bids (USD) | Number of tracts won | Total of high bids (USD) |
| Apache Alaska Corporation (100%) | 94 | 9,105,210 | 92 | 8,999,610 |
| Daniel R Gilbertson (12.5%); Nick Stepovich (12.5%); V Paul Gavora (12.5%); Alaska LLC (62.5%) | 5 | 152,275 | 5 | 152,275 |
| Monte J. Allen (100%) | 3 | 174,873 | 3 | 174,873 |
| John M Martineck (100%) | 2 | 673,305 | 2 | 673,305 |
| Aurora Exploration, LLC (100%) | 2 | 465,894 | 2 | 465,894 |
| Marathon Alaska Production LLC (100%) | 1 | 65,606 | 1 | 65,606 |
| NordAq Energy Inc (100%) | 1 | 127,269 | 1 | 127,269 |
| James A White (100%) | 1 | 62,310 | 0 | 0 |
| Paul L Craig (100%) | 1 | 183,577 | 1 | 183,577 |
| Cook Inlet Energy, LLC (100%) | 1 | 282,240 | 1 | 282,240 |
| James F McCurdy (100%) | 1 | 385 | 1 | 385 |
Alaska Peninsula received no bids on any blocks. This is the fourth year it has received no bids.
Where next?
-
Oil and gas GIS tools
We created this report using PetroView, our leading oil and gas GIS -
Fiscal and Regulatory Guides
The fiscal terms for this and many other countries are available in an easy to interpret format
Related links
-
Oil and gas maps
Request an upstream E&P wall map -
UK Fiscal & Regulatory Guide
Request a free copy of this full guide
Licensing round news
-
Subscribe to RSS
Receive updates via our RSS Feed