Cook Inlet areawide sale attracts little attention

Posted: Thursday, August 17, 2000

ANCHORAGE (AP) -- The state held its latest Cook Inlet areawide lease on Wednesday, and no one went away a loser.

Six bidders submitted 27 sealed bids for an equal number of onshore and offshore tracts. The state took in about $920,000 in the sale.

Ken Boyd, director of the state Division of Oil and Gas, said the bidding companies secured land in areas where they already held leases.

Forcenergy Inc., which emerged from bankruptcy protection earlier this year, dominated the sale by making the highest bid on 13 of the 27 tracts.

The Miami-based oil and gas company spent about $450,000 at the sale.

Unocal Corp. spent about $202,000 for five leases, while Phillips Alaska Petroleum Co. spent just under $100,000 for two leases.

Other successful bidders included Marathon Oil Co., Aurora Gas LLC and the Fairbanks partnership of Richard Wagner and Dan Gilbertson.

A number of tracts in Cook Inlet were removed from the sale because of concerns about oil industry impacts on beluga whales, which are considered depleted in the region.

Subscribe to Peninsula Clarion

Trending this week:


© 2018. All Rights Reserved. | Contact Us