Three bidders bid total of $13.8 million in Alaska lease sale

Three bidders bid total of $13.8 million in Alaska lease sale

Anchorage (Platts)--27Sep2006

Three bidders -- a Petro-Canada-led group, Anadarko Petroleum, and US
major ConocoPhillips -- bid a total of $13.8 million on Wednesday to take the
81 tracts offered in an Alaska oil and gas lease sale sponsored by the US
Interior Department.

The tracts are located in the northwest portion of the National Petroleum
Reserve-Alaska.

A group consisting of Petro-Canada and Fex LP took 48 of the tracts,
Anadarko won 25, and ConocoPhillips took eight, an official from the US Bureau
of Land Management, an arm of the Interior Department, said.

Of the 81 tracts on offer, 75 had a single bidder. Six tracts had two
bidders, and ConocoPhillips bested Anadarko on all of them.

The lease sale was dramatically scaled down in size after a US district
court judge ruled late Monday that BLM failed to fully consider the
environmental impact of drilling in other parts of the NPR-A.

--Margie Bauman, newsdesk@platts.com

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