Alaska’s North Slope Lease Op Gets Over 300 Bids

After the success of the recent oil and gas lease sales led by Governor Sean Parnell on December 7, 2011, local Alaskan officials have released their official statements regarding the implications brought by the event to Alaska and its people. House Minority Whip Berta Gardner (D-Anchorage), Representative Chis Tuck (D-Anchorage), and Representative Scott Kawasaki (D-Fairbanks) were amongst the officials reportedly pleased by the news.

Alaska Governor Sean Parnell, shown here in a photo taken at Chena Hot Springs in 2010, is pleased with the recent leasing results. Photo The Alaska News archive

“The success of these sales is another positive sign that Alaska’s doing a lot right when it comes to developing our tremendous oil and gas resources,” said Rep. Gardner. “These new leases, new access to the west, and the record level of exploration expected on the Slope this season will go a long way toward generating jobs for Alaskans and oil for the pipeline.”

Representatives Tuck and Kawasaki had the same thoughts about the successful bidding. In addition, Rep. Kawasaki pointed out the potential advantages brought by future oil investments for the economy of Alaska, particularly in the employment status of the locals.

“It’s no surprise the industry wants to invest here, and it sure is nice to see this level of commitment,” says Rep. Tuck.

The event was considered one of the most successful sales in the history of Alaska with more than 300 bids totaling a huge some of $21 million. There were about 15 bidders bidding for oil and gas lease tracts on the North Slope and the Beaufort Sea.

“Reversing the declining flow of oil through TAPS and getting to one million barrels per day is critical to our economy and the nation’s energy security,” Governor Parnell stated during the event.

It has been one of the Parnell administration’s priorities to gather oil investors in Alaska. As many have agreed before, Alaska provides too much untouched oil resources but lack investors.

“Today’s lease sale was an important, positive step that attracted additional investment to the North Slope,” Governor Parnell said.

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Alaska's North Slope Lease Op Gets Over 300 Bids