The Bureau of Land Management held an oil and gas lease sale Friday for the Coastal Plain of the Arctic National Wildlife Refuge in Alaska, resulting in five leases and generating $3.74 million.
According to the agency, two companies submitted bids on five tracts covering 72,049 acres. The Bureau of Land Management had offered 58 tracts encompassing approximately 688,829 acres for bidding during the sale.
“This lease sale is another important step toward restoring American Energy Dominance and responsibly developing the vast resources Congress directed us to make available in the Coastal Plain,” Bureau of Land Management Director Steve Pearce said in a statement.
The lease sale marks the second auction in the Coastal Plain under President Donald Trump and the first since Congress passed the Working Families Tax Cuts Act. The Trump administration has emphasized increasing access to domestic energy resources, including those located within Alaska. …