US Sells 5 Oil and Gas Leases in Alaska’s Arctic Refuge for $3.7 Million

The Bureau of Land Management said two companies submitted bids on five tracts covering 72,049 acres.

The Kaktovik Lagoon and the Brooks Range mountains of the Arctic National Wildlife Refuge are seen in Kaktovik, Alaska, on Oct. 15, 2024. Lindsey Wasson/AP Photo

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.