By SUZANNE DOWNING
March 18, 2026 – Wednesday, March 18, 2026, is poised to go down as a landmark day in Alaska’s energy history.
A long-awaited oil and gas lease sale in the National Petroleum Reserve–Alaska concluded Wednesday afternoon after 2 hours and 25 minutes of bid opening, delivering record-setting results that underscore renewed investor confidence in Alaska’s resource potential.
Preliminary totals show $163 million in high bids, surpassing the previous record of $104.6 million set in 1999. The sale also drew bids on 1,334,967 acres, making it the second-largest sale by acreage in NPR-A history, and the largest ever by number of tracts receiving bids.
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The scale and speed of the sale reflect a dramatic shift in both federal policy and industry outlook since the Trump Administration took back over.
“Investor confidence in Alaska’s energy future is not only strong—it’s growing,” said Steve Wackowski, president and CEO of the Alaska Oil and Gas Association. “This record-setting lease sale sends a clear signal that when Alaska offers a stable fiscal and regulatory environment, investment follows. The Trump administration deserves credit for helping restore access and certainty in the NPR-A, allowing industry to step forward with meaningful commitments. That confidence is critical to advancing responsible development of Alaska’s vast resources, supporting jobs, sustaining the Trans-Alaska Pipeline System, and strengthening U.S. national security in an increasingly uncertain world.”
Alaska’s congressional delegation, particularly Congressman Nick Begich and Sen. Dan Sullivan, played a central role in clearing the path for the sale through Congressional Review Act reversals and federal legislation.
“Alaska has always had the capacity to lead in energy and resources, but federal barriers prevented us from realizing that full potential,” Begich said. “For decades, we were restricted. Those restrictions cost us opportunity, investments, and energy security. Today marks a true milestone in restoring Alaska’s role as a cornerstone of American energy production. This historic lease sale is proof that the world is ready to invest in Alaska when the path is clear. This was the result of focused effort from my team who began laying the groundwork early in this Congress. From day one, we fought relentlessly to ensure Alaska had a seat at the table. I’m grateful for Speaker Johnson, Leader Scalise, Whip Emmer, and Chairman Westerman for recognizing early on that Alaska is central to America’s prosperity and energy security, and for ensuring our state was a priority in this effort. For the first time in decades, Alaska has the wind at our back. We are ready to run.”
Sen. Dan Sullivan made this statement:
“Today’s historic lease sale in the NPR-A is another clear sign that Alaska’s Comeback is underway—unlocking our vast resource potential, creating good-paying jobs, and strengthening both our state’s energy economy and the energy security of our entire country. This lease sale wasn’t just historic in the amount of bids, but also in terms of the companies bidding, from some of the biggest energy companies in the world, to smaller aggressive wildcatters. This milestone is the direct result of a three-pronged approach I have worked on for years to restore investment certainty in our state.
“First, President Trump’s Day One Alaska-specific executive order, Unleashing Alaska’s Extraordinary Resource Potential, set the stage to realign federal policy and empower Alaska to meet our nation’s energy needs and start to reverse the Biden-era Last Frontier Lock Up of Alaska. Second, we passed the Working Families Tax Cuts Act, which mandates five lease sales in the NPR-A over the next decade, ending the uncertainty caused by political pendulum swings and finally putting development certainty into law. It’s important to note that Senate Democrats and Minority Leader Chuck Schumer fought to strip these Alaska energy provisions from this historic bill. And third, by working with my colleagues to overturn the Biden administration’s unlawful NPR-A rule through the Congressional Review Act, we reversed one of the most comprehensive and egregious examples of federal overreach and restored the balance Congress originally intended.
“For years, Alaska was whipsawed by one-size-fits-all federal actions—more than 70 executive orders and actions by the Biden administration specifically targeting our state—that ignored both the law and the voices of our communities. The Biden administration’s NPR-A rule alone locked up roughly half of the Reserve, despite Congress’s clear mandate for responsible development, undermining the jobs, revenues, and energy production that our communities—particularly on the North Slope—depend on. Overturning that rule not only reopened opportunity in the NPR-A, it will work to prevent future politically driven lock-ups of the area.”
Sullivan concluded: “Today’s lease sale is clear proof that this approach is working for Alaska and our economy. I want to thank President Trump and Secretary Burgum for their leadership in helping us advance this comprehensive, Alaska-focused approach to resource development and job creation. Together, we are restoring long-term certainty, strengthening American energy security, creating thousands of jobs, and continuing the Alaska Comeback for families and communities across our state.”
House Majority Leader Steve Scalise said, “The Biden Administration’s failed anti-American energy policies put our energy and national security at risk while raising costs on American families. Thankfully, President Trump and Republicans have put an end to their madness. With the passage of our historic Working Families Tax Cut, which includes requirements for additional lease sales in the National Petroleum Reserve in Alaska, we followed through on our promise to restore American energy dominance. Today’s historic NPR-A lease sale marks a significant step towards unlocking Alaska’s vast energy potential. I’m grateful to my good friend, Rep. Nick Begich, for being a relentless advocate for Alaska and all his hard work to bolster America’s energy security by unleashing Alaska’s natural resources.”
“Republicans are unleashing American energy dominance like never before, and Alaska plays a major role in doing that,” said Majority Whip Tom Emmer. “Thanks to Congressman Begich’s leadership, today’s NPR-A lease sale is the next step toward ensuring our nation’s energy security and stability. The days of federal overreach stifling American energy are over.”
“As part of the Working Families Tax Cut law, House Committee on Natural Resources Republicans required lease sales in the NPR-A to secure Alaska’s and America’s energy future. Today’s lease sale is a major victory for Alaska’s workers, its economy, and for American families who will benefit from a greater supply of affordable and reliable American energy. I commend Congressman Begich for his efforts on this provision and his tireless advocacy for the people of Alaska,” said House Natural Resources Chairman Bruce Westerman.
Sen. Lisa Murkowski joined the other members of the delegation in celebrating the leases as a win for Alaska:
“This is a great day for Alaska that further demonstrates the world-class energy potential across our North Slope. The delegation has focused on the NPR-A not only because it is a petroleum reserve—one of the most obvious places to produce energy anywhere in the nation—but also because we knew that industry’s interest in this area is remarkably strong. Our efforts to restore access, return to the rule of law, and get this program back on track have now been fully validated by these historic results,” Murkowski said. “The best part is, the best is yet to come. From here, these leases will lead to new development and production, creating good jobs, generating even more revenues, and strengthening our energy security. I look forward to all of it and thank Secretary Burgum and his team for being excellent partners on behalf of Alaska.”
Sale documents will be available soon on the BLM Alaska Oil and Gas Lease Sales page.
Early results from the livestream showed ConocoPhillips as a dominant bidder, with additional participation from Shell, ExxonMobil, and Armstrong Oil & Gas and others. More than 400 bids were submitted across roughly 200 tracts, with particularly strong interest in high-potential North Slope acreage. At one point during the sale, a Repsol/Shell partnership had already secured multiple bids exceeding $2.4 million each.
The Bureau of Land Management offered more than 600 tracts covering approximately 5.5 million acres, marking the first NPR-A lease sale since 2019 and the first required under the 2025 “One Big Beautiful Bill Act,” which mandates at least five such sales over the next decade.
The sale carries immediate fiscal implications for the state. Under changes secured by Congressman Begich, Alaska now receives a 70-30 revenue split, increased from the previous 50-50 arrangement. That means roughly $80 million will flow to the state from this sale alone—before any exploration or production begins.
The record-setting outcome comes after years of federal restrictions and legal battles over development in the NPR-A. A 2025 Record of Decision opened approximately 82% of the 23-million-acre reserve to leasing, while executive actions under President Donald Trump and Congressional Review Act resolutions overturned prior Biden-era limitations. Alaska’s congressional delegation played a central role in advancing those changes, helping clear the way for the sale to proceed.
The contrast with other recent lease offerings is notable. An offshore Cook Inlet lease sale earlier this month drew little to no interest, highlighting how geography, infrastructure access, and regulatory certainty continue to shape investment decisions. By comparison, the NPR-A remains one of the most prospective onshore oil regions in the United States, with existing infrastructure nearby and ongoing development projects on the North Slope.
Environmental and Alaska Native groups had filed legal challenges seeking to delay or block the sale, citing concerns over wildlife, subsistence uses, and climate impacts, but no injunctions were in place, allowing the sale to proceed as scheduled.
Final results, including confirmed winning bidders and detailed tract allocations, are expected to be released by the Bureau of Land Management after processing of the bids. But the headline is already clear: March 18, 2026 marks a turning point for Alaska’s energy future, with record-breaking investment signaling that when access is restored and policy is predictable, industry is ready to respond at scale.
