ANWR Lease Sale Generates $6 Million in Bids on 5 of 58 Tracts

The Bureau of Land Management held an oil and gas lease sale for tracts in the Coastal Plain of the Arctic National Wildlife Refuge on June 5, 2026. The sale offered 58 tracts across nearly 689,000 acres and received nine bids on five tracts covering more than 70,000 acres. Hex Energy LLC and the Alaska Industrial Development and Export Authority submitted all nine bids.

The auction produced more than $6 million in total revenue, with high bids exceeding $3 million. Half of the revenue will go to the state of Alaska by law. A comparable lease sale in the National Petroleum Reserve of Alaska in March generated a quarter of a billion dollars.

The Trump administration removed legislative protections that had restricted oil and gas exploration in the refuge and other federal lands in Alaska during 2025. Charles Lampe, who is Inupiaq and was born and raised in Kaktovik, said local voices should be heard first because decisions will affect generations.

“Our voices should be the first one served, should be the first one to listen to,” he said.

Energy Secretary Chris Wright said companies that borrowed oil from the Strategic Petroleum Reserve will return an additional 40 million barrels after the Iran conflict ends. 25 barrels back next year,” he said. 1 million barrels.

M. 69 percent. EU Transport Commissioner Apostolos Tzitzikostas told Reuters there is currently no jet fuel shortage in Europe, though higher prices have prompted some airlines to cancel routes.

Jet fuel accounts for 25 to 30 percent of carriers’ costs. American Airlines announced temporary cuts to routes including Los Angeles to Washington Dulles and Charlotte to Ontario. Baker Hughes reported 563 active oil and gas rigs in the United States for the week of June 5, an increase of one from the prior week and four above the same week last year.