Biggest Sale in Over a Decade
December 12, 2019
The United States just held its most successful Alaska oil and gas lease sale in more than a decade. This is just the most recent example of how valuable Alaska’s land is thanks to the oil and natural gas industry. In this case, the bids were over the National Petroleum Reserve of Alaska. Reuters reports: The 23 million-acre National Petroleum Reserve is considered a hotbed for new oil discoveries as development spreads west on the North Slope. There were more than $11 million in total high bids for about one million acres of the land. That is about 25% of…