Two zones, near existing infrastructure and more distant, determine minimum bid amounts, royalty suspension volumes
Kristen Nelson
Petroleum News
Week of November 05, 2006
The Minerals Management Service has information out for its next oil and gas lease sale in the Beaufort Sea off Alaska’s North Slope. Bids for Beaufort Sea Sale 202 will be read in Anchorage March 28, beginning at 9 a.m. at the Wilda Marston Theatre in the Loussac Library.
MMS has 180 active leases in the Beaufort Sea, 117 of which date from Sale 195 in March 2005, which was dominated by Shell’s re-entry into Alaska with some $44 million of $46 million in high bids at the sale. Of 367,546 hectares currently under lease by MMS in the Beaufort, 245,760 hectares were taken at the 2005 sale. In addition to Shell, MMS Beaufort Sea tracts (or interests in tracts) are held by BP Exploration (Alaska), Murphy Exploration (Alaska), ConocoPhillips, Anadarko Petroleum, Forest Oil and Eni Petroleum Exploration. read more
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