The Bureau of Ocean Energy Management (BOEM) has announced the Final Notice of Sale for the Cook Inlet Outer Continental Shelf Oil and Gas Lease Sale 1, marking a significant step towards unleashing American energy by encouraging oil and gas exploration and production on federal lands and waters. This sale is part of a broader effort to meet America's energy needs and strengthen national readiness, as mandated by the 'One Big Beautiful Bill Act' or BBC1. The legislation requires six lease sales in Alaska's Cook Inlet, with this being the first of these sales.
The sale includes Information to Lessees and lease stipulations, offering predictable terms and a transparent process for lessees. 5 percent royalty rate. m.
Alaska Time on Tuesday, March 3, with the high bids to be evaluated using BOEM's bid adequacy procedures. The Department of Justice and Federal Trade Commission will review results for antitrust considerations before accepting bids and issuing leases. gov/ak-bbc1, including a list of blocks available for bid, an area map, and instructions for accessing the livestream.
By supporting Alaska's role in meeting America's energy needs, BOEM aims to create opportunities for investment and jobs. This sale reflects a clear path forward for Cook Inlet leasing, with predictable terms and a transparent process in place. Energy security is national security, and this sale is an important step towards strengthening national readiness.
m. Alaska time on Wednesday, March 4. BOEM Acting Director Matt Giacona emphasized the importance of regular and predictable federal leasing for maintaining domestic energy production.
By offering these terms and a transparent process, BOEM is supporting Alaska's role in meeting America's energy needs and creating opportunities for investment and jobs.