Armstrong Energy was awarded ADL 393580, a 6 sq km tract located north of Oooguruk, on 1 April 2018 for US$75,583.60, according to reports. The single lease was awarded to Armstrong as part of the 2018 Beaufort Sea Sale. The sale drew 19 bids on 16 tracts from four bidding groups, with a total of US$ 1.2 million in apparent high bids on 152 sq km (37,602 acres). Armstrong was recently involved in ~180 lease transaction, in which Oil Search, through its subsidiary Oil Search (Alaska), acquired 25.5%-37.5% WI from Armstrong Energy and GMT Exploration. The transaction, which was valued at US$ 400 million, encompassed the Pikka Unit, Horseshoe, Hue Shale, as well as the 'Exploration' leases (Harrison Bay, Thetis, Atlas A, Atlas B, Kachemach and Antigua blocks). Following official award, Armstrong Energy is now the operator and sole interest-holder (100% WI + Op) in ADL 393580.
Armstrong Energy was awarded ADL 393580, a 6 sq km tract located north of Oooguruk