Alaska has auctioned off 29 energy tracts in Cook Inlet, including one for geothermal energy on Augustine Island and 28 for crude oil or natural gas.

Nicholas Van Wyck bid $1.02 per acre, or $2,544.90 for the geothermal tract. It covers 2,495 acres on the northwest corner of Augustine Island.

The island 175 miles southwest of Anchorage is home to Augustine Volcano. It was the first geothermal acreage offered and the first sale since acreage on Mount Spur was sold in 2008.

In the main event of the lease sale Wednesday, bidders offered nearly $4.5 million for Cook Inlet oil and gas tracts.

The state received 32 bids on 28 tracts covering 145,739 acres. Hilcorp Alaska is apparent high bidder on 19 tracts.