Beaufort Sea draws bids from 3

Three companies put $10.2 million on the line for the rights to drill for oil in the Beaufort Sea off Alaska during Lease Sale 186. The US Minerals Management Service said there were $8.9 million in high bids for the 1,798 blocks on offer. Of those, only 39 received bids.

Three companies put $10.2 million on the line for the rights to drill for oil in the Beaufort Sea off Alaska during Lease Sale 186. The US Minerals Management Service said there were $8.9 million in high bids for the 1,798 blocks on offer. Of those, only 39 received bids.

ConocoPhillips Alaska placed the highest bid of $2.2 million on the most sought after block, Beechey Point.

EnCana Oil and Gas and Armstrong Alaska also submitted bids in the lease sale.

9/25/03

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