Cook Inlet areawide online bids tentatively set to begin May 13
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Kristen Nelson Petroleum News
The Alaska Division of Oil and Gas has issued tentative dates for its spring Cook Inlet areawide oil and gas lease sale, with online bidding set to begin of May 13 and results available June 12.
Leases will be offered with net profit share bidding, fixed cash bonus and zero royalty share.
The division said the bid variable is the percent the lessee will share with the state of its net profits -- profits after the lessee recoups its development costs.
The cash bonus will be a fixed per-acre amount based on the size of the lease, with the fixed cash bonus in the last Cook Inlet oil and gas lease sale $40 per acre, the division said.
The minimum net profit share in the last sale was 5%.
Seismic data sets available The division provided a list of seismic data sets currently available:
*Nikiski marine 3D (released January 2024) covering some 340 square miles on- and offshore.
*Ninilchik land 3D and Deep Creek 3D, both released in December, covering more than 23 square miles combined.
*Cook Inlet 3D covering some 122 square miles released in September.
*Seismic Technology 2D test and Iniskin 2d for the west side of the inlet, some 19 line miles.
Seismic to be released this year Four Cook Inlet datasets are scheduled to be released this year, the division said:
*Kenai Loop 3D, onshore and offshore at the Cannery Loop unit.
*North Kenai 2D and Gray Cliff 2D, intersecting datasets north of Swanson River and west of Kitchen Lights.
*South Kenai 2D, more than 380 line miles.
*2D Deep Creek test -- intersects with Deep Creek 3D released last year.
--KRISTEN NELSON
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