As part of a broader effort to unleash American energy by encouraging oil and gas exploration and production on federal lands and waters, the Bureau of Ocean Energy Management has announced the Final Notice of Sale for the Cook Inlet Outer Continental Shelf Oil and Gas Lease Sale 1. Officially authorized under the 'One Big Beautiful Bill Act' and commonly known as BBC1, this marks the first of six lease sales in Alaska’s Cook Inlet required by the legislation.
'Regular and predictable federal leasing is the minimum standard for maintaining domestic energy production,' said BOEM Acting Director Matt Giacona. 'Energy security is national security, and this sale reflects a clear, congressionally mandated path forward for Cook Inlet leasing. By offering predictable terms and a transparent process, we are supporting Alaska’s role in meeting America’s energy needs, strengthening national readiness and creating opportunities for investment and jobs.'
The Final Notice of Sale includes Information to Lessees and lease stipulations. Lease terms include a 10-year primary term, a minimum bonus bid of $25 per hectare, and a 12.5 percent royalty rate.
Sealed bids must be received by 10 a.m. Alaska Time Tuesday, March 3. BOEM will open and publicly announce bids via livestream at 10 a.m. Alaska time Wednesday, March 4.
BOEM will evaluate high bids using its bid adequacy procedures, and the Department of Justice and Federal Trade Commission will review results for antitrust considerations before BOEM accepts bids and issues leases.
The complete lease sale package, including a list of blocks available for bid, an area map and instructions for accessing the livestream, is available at: www.boem.gov/ak-bbc1.
Source: BOEM
