05/16/12 - 12:56pm
ANCHORAGE — Alaska's annual Cook Inlet petroleum lease sale drew bids on 44 tracts by five bidding groups or individuals.
Hilcorp Alaska LLC, Apache Alaska Corp. and Cook Inlet Energy LLC were the busiest bidders in the sale Wednesday.
Division of Oil and Gas director Bill Barron assesses the sale as three primary players doing fill-in work around some of their existing lease.
He says they're solidifying holdings to continue exploration and development.
Preliminary figures indicate high bids totaled $6.8 million on leases both on and off shore.