ANCHORAGE — Shell Oil President Marvin Odum has faith that his company can develop vast reserves in the Chukchi Sea off Alaska’s northwest coast. But he’d like to get on with exploratory drilling to tap into a resource that could be crucial to meeting the country’s energy needs.

“That’s an area where working in Alaska has, frankly, been disappointing to us as a company,” Odum said in an interview with The Associated Press. “It has taken much longer that we originally thought it would.”

ANCHORAGE — State of Alaska petroleum officials who have seen light bidding on Cook Inlet leases in recent years were more than excited Wednesday after opening high bids for 613,690 acres.

“We’re thrilled,” said Bill Baron, director of the state Division of Oil and Gas. “This has been a great day for Alaska, a great day for the Cook Inlet.”

Alaska received just five bids for Cook Inlet region tracts in 2009 and 37 in 2010. The number jumped to 110 this year.

ANCHORAGE — Continued disagreement on how to extend Alaska’s coastal zone management program has halted plans for a second special legislative session, House and Senate leaders said Sunday.

Legislative leaders last week told members to book airplane tickets for Juneau. However, plans for the special session fell apart when both sides failed to budge from previous positions.

Senate leaders met Sunday morning and reaffirmed their commitment to a bill worked out by a conference committee, said Senate President Gary Stevens, R-Kodiak.

ANCHORAGE — President Barack Obama’s call last week for additional petroleum development in Alaska was welcomed in the state, but U.S. consumers may not see effects at the gas pumps or anywhere else for the duration of his administration, even if he wins a second term.

Obama said the federal government will extend leases off Alaska’s coast to give companies time to meet higher safety standards. He pledged to streamline permitting.