The Alaska Division of Oil and Gas is beginning to accept bids for geothermal lease sale tracts on St Augustine Island. About 55,771 acres of state-owned land on the northern half of the volcanic island in lower Cook Inlet are available.
The sale is being held because of the competitive interest shown after a proposal for exploration of the area was submitted in 2024.
The state-owned areas on the southern part of the island, which are under newly issued leases for geothermal prospecting, are not included in the sale.
“We hope to see additional interest in the prospective geothermal resources of this area,” said Haley Paine, Deputy Director of the Division of Oil & Gas. “Sustainable geothermal development could be a growing part of the energy portfolio for Alaskans if this exploration progresses.”
Prospective bidders can explore the sale at EnergyNet.com.
