Alaska To Offer Nearly 15 Million Acres for Oil, Gas Drilling Leases

- Alaska To Offer Nearly 15 Million Acres for Oil, Gas Drilling Leases

Thursday, June 30, 2011
Dow Jones Newswires
WASHINGTON
by Tennille Tracy

The state of Alaska plans to offer nearly 15 million acres of state-owned land and waters for oil-drilling leases, saying the areas contain billions of barrels of oil.

The lease sale will be held Oct. 26, 2011, the state said Thursday.

The sale will involve 2 million acres in the Beaufort Sea, 5.1 million acres on the North Slope and 7.6 million acres in the North Slope foothills.

Roughly 3 billion to 6 billion barrels of undiscovered oil exists in the state- and Alaska Native-owned lands between the National Petroleum Reserve and Arctic National Wildlife Refuge, the state said.

Copyright (c) 2011 Dow Jones & Company, Inc.

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