The U.S. Government held its Most Successful Sale of Oil and Gas Drilling Rights in Alaska's National Petroleum Reserve on 3/18/2026, Attracting more than $163M in Winning Bids in the First Lease Sale in the NPR-Alaska in 7 years.
Eleven Companies Submitted Bids on 187 Tracts of the Reserve totaling 1.3M Acres, according to the Interior Department's Bureau of Land Management (BLM), which had Offered more than 5.5M Acres for Lease.
A Joint Venture between Repsol (REPYF), (REPYY), and Shell (SHEL), was the Auction's Top Spender, Bidding a Total of nearly $94M for 42 Tracts.
Other Significant Winners included ConocoPhillips (COP), which Bid on Lease Tracts Adjacent to its Existing Willow Project, as well as Exxon Mobil (XOM) and North Slope Exploration LLC.
Under the One Big Beautiful Bill Act (H.R.1) Passed in 2025, the BLM must Hold at least Five Lease Sales in the Reserve by 2035, each Offering No Fewer than 4M Acres.
NYC Wins When Everyone Can Vote! Michael H. Drucker
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