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2Q income flat in advance of oil tax vote

Alaska’s financial institutions posted another quarter of steady performance and the largest bank in the state expects activity to increase in the wake of the Aug. 19 vote to preserve oil tax reform. Wells Fargo’s Alaska Regional Business Banking Manager Darren Franz said in late September that there was something of a slowdown in the second quarter compared to prior years as businesses paused to see how the vote on oil taxes would pan out.

New Chukchi analysis still on track

The U.S. Bureau of Ocean Energy Management is moving step-by-step through a revised environmental analysis of Chukchi Sea offshore oil and gas development and expects to remain in schedule for a draft supplemental environmental impact statement, or SEIS, to be complete by late October.

Ketchikan wins ferries; Juneau road EIS released

Alaska’s newest ferries will be the first made in the state after all. Gov. Sean Parnell announced an agreement Sept. 20 between the state and Vigor Alaska to construct two Alaska Class ferries at Vigor’s Ketchikan shipyard.

Miller bids for Buccaneer as CIRI gas dispute continues

There is a new suitor for Buccaneer Energy’s Alaska assets and a tangled web of legal challenges continue for the bankrupt independent producer. Miller Energy Resources Inc. announced its intent to spend $40 million to $50 million on “substantially all” of Buccaneer’s Alaska holdings in a Sept. 15 release. The Knoxville, Tenn.-based independent entered a non-binding letter of intent with Buccaneer, according to the release.

Canada, UK show promise for unmanned aircraft systems

Commercial unmanned aircraft use in other countries is demonstrating how they could be used in Alaska once proper regulations are in place. Curt Smith, a technology director for BP, said the company, which commissioned the first commercial overland, unmanned aircraft flight in the country on the North Slope in June, implements technology not because it’s cool, but because it makes sense and improves efficiency.

 

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