Alaska Oil Lease Sale Draws 430 Bids, Nets Record $163.7 Million in Revenue

Policies & ImpactsAt least 10 companies secure access to 1.3 million acres of public lands in first lease offering since 2019 on the 23 million-acre National Petroleum Reserve.Fish Creek runs through the National Petroleum Reserve–Alaska on the North Slope on July 8, 2004. David W. Houseknecht/United States Geological Survey via APJohn HaugheyReporter3/19/2026|Updated: 3/19/20260:00The U.S. Department of Interior’s first oil lease sale in the National Petroleum Reserve–Alaska since 2019 drew more than 430 bids during a March 18 auction that netted $163.7 million.It was a record amount for a federal public lands lease sale.