WASHINGTON (Dow Jones)--The state of Alaska plans to offer nearly 15 million acres of state-owned land and waters for oil-drilling leases, saying the areas contain billions of barrels of oil.
The lease sale will be held Oct. 26, 2011, the state said Thursday.
The sale will involve 2 million acres in the Beaufort Sea, 5.1 million acres on the North Slope and 7.6 million acres in the North Slope foothills.
Roughly 3 billion to 6 billion barrels of undiscovered oil exists in the state- and Alaska Native-owned lands between the National Petroleum Reserve and Arctic National Wildlife Refuge, the state said.
-By Tennille Tracy, Dow Jones Newswires; 202-862-6619; email@example.com