The U.S. government recently held an auction for the right to drill oil and gas offshore in Cook Inlet, Alaska, for which it received only a single bid.
The auction, held by the Bureau of Ocean Energy Management (BOEM) on Friday, offered leases for 193 blocks totaling around 958,000 acres. However, it only received a single bid for one block in the amount of $63,983 submitted by Hilcorp Alaska LLC which covers an area of 5,693 acres.
“The Cook Inlet lease sale terms include stipulations to protect biologically sensitive resources, mitigate potential adverse effects on protected species, and avoid potential conflicts associated with other inlet users,” according to a Dec. 30 BOEM press release….