The Department of the Interior announced on Mar. 18 that it generated more than $163 million from an oil and gas lease sale for the National Petroleum Reserve in Alaska. The event marked the first lease sale for the reserve since 2019 and was conducted under President Donald J. Trump’s One Big Beautiful Bill Act.
The sale is significant as it set a record for revenue generated, with 187 leases awarded and total receipts reaching $163,696,722. It also saw the most tracts receiving bids and represented the second largest acreage sold in a single sale within the 23-million-acre reserve.
“Today’s lease sale underscores the National Petroleum Reserve in Alaska’s vital role in strengthening America’s energy security while fueling economic growth across Alaska,” said Secretary of the Interior Doug Burgum. “The Reserve was created to support our nation’s energy needs, and this successful sale demonstrates what’s possible when we align responsible development with that original purpose. Revenues from these leases will help bolster local communities, create good‑paying jobs, and ensure that Alaska continues to be a cornerstone of America’s domestic energy production.”
According to the Department of the Interior, the Bureau of Land Management offered 625 tracts covering about 5.5 million acres during this sale. Eleven companies submitted bids on 187 tracts totaling approximately 1.33 million acres. The State of Alaska is set to receive nearly $82 million—half of all bid receipts—with some proceeds directed toward North Slope communities through an impact mitigation program.
Since January 2025, federal agencies have acted to expand leasing opportunities by rescinding previous restrictions and updating management plans for the reserve. Under current law, at least five lease sales must be held by 2035, each offering no fewer than four million acres.
Since its inception in 1999, lease sales in the National Petroleum Reserve in Alaska have generated over $457 million supporting federal, state, and local interests.
