FAIRBANKS, Alaska - The Bureau of Land Management or BLM, generated over $1.5 million in annual sales at an oil and gas lease Wednesday December 12, in the National Petroleum Reserve in Alaska also referred to as NPR-A.
Three companies, including ConocoPhillips, Emerald House LLC and Noraq Energy Inc, submitted bids on 16 tracts covering over 174 thousand acres in the reserve.
In the Press release, Assistant Secretary for land and Minerals Management Joe Balash is quoted saying, "Today's results reflect the continued interest in our National Petroleum Reserve in Alaska, and with the industry continuing to move into the Reserve it is Prudent that we take a hard look at the current management plan to ensure it meets the best interests of the American public."
The BLM received 16 bids and opened them up during a live video stream, in an effort to keep the public and Alaskans connect throughout the state. Of the 1.5 million dollars, just over $766 or 50 percent will go to the State of Alaska.
Eric Tausch is with the BLM's state office in Anchorage and he says the lease sale was based on the 2013 NPR-A activity plan.