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The Alaska Department of Natural Resources (ADNR), Division of Oil and Gas (DO&G), has announced a Lease Sale in the Cook Inlet, scheduled for 16 May 2012.

The sale covers an area of approximately four million acres divided into 815 tracts ranging in size from 35 to 5,760 acres. All leases will carry an initial primary term of 10 years, with the rental rate per acres to raise in the 8th - 10th year, unless there is sustained production.

State-owned uplands and tide and submerged lands are included in the Lease Sale. The entirety of the proposed sale area is located within the Kenai Peninsula Borough, the Matanuska-Susitna Borough and the Municipality of Anchorage.

The Cook Inlet is currently one of the most active areas for oil and gas exploration and production in Alaska.

Cook Inlet Areawide Sale 2012. Source: PetroView®

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