Alaska O&G lease sale attracts just one bid

Written by Nick Blenkey
oil and gas lease sale bid

Solitary bid was read out at auction that lasted less than five minutes

The Bureau of Ocean Energy Management (BOEM) held Cook Inlet Oil and Gas Lease Sale 258 on December 30, 2022, 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 the 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

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