The more than $3 billion investment from Australian company Santos is Alaska’s first new oil project in decades.

The state’s annual North Slope oil and gas lease sale drew brisk bidding that was dominated by small independent companies, some of which were new entrants to Alaska, officials reported on Wednesday. The Division of Oil and Gas said nine companies ...

When John Kurz left Alaska’s North Slope in 2009, he was staring at a grim future for what had once been the country’s premiere oil field.

The Trump administration said this week that its recent sale of the rights to drill in a contentious area of Alaska generated record revenue for federal oil and gas lease sales. The news signals optimism from the oil industry that high energy prices could ...

Industry interest has waned, even as the Trump administration has proposed holding dozens of new lease sales in the state in coming years. The Interior Department received no bids in an oil and gas lease sale off the southern coast of Alaska on Wednesday.

When John Kurz left Alaska’s North Slope in 2009, he was staring at a grim future for what had once been the country’s premiere oil field. Crude production had plummeted to 567,000 barrels per day, barely more than a quarter of the roughly 2 million barrels pumped daily at the field’s peak two decades earlier.