The Bureau of Ocean Energy Management (BOEM) today held Cook Inlet Oil and Gas Lease Sale 258 as directed by the Inflation Reduction Act of 2022. The sale generated one bid for one tract. The bid, in the amount of $63,983, was submitted by Hilcorp Alaska LLC.
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.
Following today’s sale, the bid will go through a 90-day evaluation process to ensure the public receives fair market value before a lease is awarded, and a Department of Justice review of antitrust considerations. If a lease is awarded, it will be posted to BOEM’s website following the 90-day review. All materials and statistics for Lease Sale 258 are available at www.boem.gov/ak258.
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The Department of the Interior’s Bureau of Ocean Energy Management (BOEM) is responsible for America’s offshore energy and mineral resources. The bureau promotes energy independence, environmental protection and economic development through responsible, science-based management of energy and mineral resources on the U.S. Outer Continental Shelf.