North Slope Bids Dominated by Great Bear Petroleum

Ellen Lockyer, KSKA – Anchorage

The state received approximately $9.5 million in bonus bids for its competitive oil and gas lease sales in the Beaufort Sea and North Slope on Wednesday.   North Slope bids on 129 tracts brought in close to $9 million in bonus bids.  21 Beaufort Sea tracts brought in more than $702,000 in bonus bids.

The North Slope sale was dominated by Great Bear Petroleum, a new player in Alaska.  The company won all of the 105 tracts it bid on.

“We’re pleased to see that there’s continued industry interest in the exploration potential of the North Slope ,” Kevin Banks, director of the division of oil and gas, said.

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