On 1 March 2018, the ConocoPhillips Alaska has been officially awarded seven tracts as a result of the NPR-A 2017 oil & gas lease sale covering the National Petroleum Reserve-Alaska (NPR-A) on 7 December 2017. ConocoPhillips Alaska (78%) bid with partner Anadarko (22%) who were the lone bidders in the sale partnering on the seven tracts. However, it was announced by ConocoPhillips in February 2018 that it had struck a deal to acquire all of Anadarkoâs interest within the partnership on all NPR-A acreage in which the two are partners. The recently awarded tracts are located in the low potential area south of the companyâs current acreage position in the Northeast NPR-A some 38 mi (61 km) from the companyâs 2016 Willow oil discovery. ConocoPhillips paid a total of USD 1.16-million on 79,998 acres (323 sq km) contained in the seven tracts. The per acre bid average for the leases was USD 14.51. Once the Anadarko acquisition is official ConocoPhillips will hold a 100% working interest in the leases. The lack of interest in the sale was likely due to a majority of the acreage on trend with recent discoveries was not included in the sale, these tracts were removed from future sales by the previous US president in 2013. The current administration will have to review the previous order removing the leases and conduct the necessary environmental reviews before the lands can be included in future sales. A table showing the awarded blocks details has been provided below. NPRA Sale 2017 Official Awards Â  Â  Â  Â  Â  Â  Operator Name Area Contract Bonus USD Acres Per Ac Bid Sq km Sale Award Date ConocoPhillips Alaska Inc NE NPR-A L-079 $170,242.00 11,357 15.00 45.92 NPRA Sale 2017 06-Dec-2017 ConocoPhillips Alaska Inc NE NPR-A L-080 $170,572.00 11,379 15.00 46.01 NPRA Sale 2017 06-Dec-2017 ConocoPhillips Alaska Inc NE NPR-A L-081 $170,182.00 11,353 15.00 45.92 NPRA Sale 2017 06-Dec-2017 ConocoPhillips Alaska Inc NE NPR-A L-083 $150,494.00 11,358 13.26 45.92 NPRA Sale 2017 06-Dec-2017 ConocoPhillips Alaska Inc NE NPR-A L-108 $172,760.00 11,525 15.00 46.57 NPRA Sale 2017 06-Dec-2017 ConocoPhillips Alaska Inc NE NPR-A L-110 $152,707.00 11,525 13.25 46.57 NPRA Sale 2017 06-Dec-2017 ConocoPhillips Alaska Inc NE NPR-A L-111 $172,400.00 11,501 15.00 46.48 NPRA Sale 2017 06-Dec-2017 Totals Â  Â  $1,159,357.00 79,998 $14.49 323.39 Â  Â  Source: IHS Markit Â  Â  Â  Â  Â  Â  Â  Â© 2018 IHS Markit Â 
ConocoPhillips has been officially awarded 7 tracts as a result of the NPR-A 2017 oil & gas lease sale covering the National Petroleum Reserve-Alaska (NPR-A).