Bucking political headwinds, oil and gas companies are dropping federal leases in the Arctic National Wildlife Refuge, but the state of Alaska is holding firm on seven leases held by a state development corporation that were won in a January 2021 lease sale held by the US Bureau of Land Management. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Regenerate Alaska, an independent company, has dropped its single 23,446-acre lease acquired in the 2021 sale, a BLM official confirmed June 2. Earlier in the week BP and Hilcorp Energy acknowledged they have dropped options on leases in a 91,000-acre private Alaska Native-owned enclave in the refuge. Majors BP and Chevron obtained their option on the Native lands, which are within the federally-managed refuge, in the 1980s after drilling an exploration well, the results of which are still confidential. Hilcorp acquired its rights to the option […]