Petroleum

Petroleum

$28.1 million bid for slope leases

The state received $28.1 million in bonus bids in its Nov. 15 North Slope and Beaufort Sea “areawide” lease sales, the bulk of the money from Repsol and a newly-formed company based in Louisiana, Lagniappe. Repsol bid top-dollar for selected unleased tracts near the Pikka discovery, in the west-central central slope, where the Spain-based company is 49 percent owner. Lagniappe bid mostly near the state’s minimum per-acre bid but picked up a large 195,200-acre block of leases in the eastern slope south of the Point Thomson Unit. Lagniappe had been incorporated just prior to the Dec. 15 sale. There was one offshore lease bid, by Hilcorp Energy, in the Beaufort Sea submerged lands portion of the sale. Unleased state lands in the southern North Slope “foothills” were offered, but there were no bids.

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