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6d ago

First NPR-A Lease Sale Since 2019 Draws 430 Bids, $163 Million

A new law signed by President Trump compels multiple large auctions through 2035, widening industry access to the reserve.

Downtown Anchorage sits on a coastal plane between Cook Inlet and the Chugach Mountains, in Alaska, June 24, 2015. REUTERS/Mark Meyer/File Photo
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Overview

  • The BLM offered 625 tracts spanning about 5.5 million acres in the National Petroleum Reserve–Alaska.
  • Officials reported 430 bids from 11 companies on 187 tracts covering roughly 1.3 million acres, with high bids totaling $163 million and half of that to Alaska.
  • Major participants included ConocoPhillips, Repsol, Shell and Frontier Oil & Gas, which state leaders hailed as a strong signal for the North Slope.
  • The sale is the first required by the One Big Beautiful Bill Act, which compels at least five NPR-A auctions by 2035 with a minimum of 4 million acres offered each time.
  • Environmental lawsuits and a court-ordered stay related to protections near Teshekpuk Lake could limit lease issuance in some areas, while a recent Cook Inlet offshore sale drew no bids.