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Publish Date : 23-Nov-2015

About $9.5 million has been obtained by the State of Alaska in the state's North Slope oil and gas lease sale, which took place on Nov. 18.

A total of 134 bids has been received by the by Alaska Division of Oil and Gas from firms and investors interested in obtaining leases during the North Slope, North Slope Foothills and Beaufort Sea oil and gas lease sales.

The Bids for on 131 tracts including 186,400 acres in the North Slope sale area has been obtained by the division. The North Slope Foothills or Beaufort Sea sale areas did not get any bids.

Accumulate Energy Alaska Inc. and Burgundy Xploration LLC, bidding together, 70 & 148 LLC and ConocoPhillips'Alaska subsidiary were the bidders included.

The results are "very encouraging in light of the current low oil prices," said Corri Feige, director of the state's Division of Oil and Gas.

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