Archive of: Featured Articles, Oil & Gas, Oil & Gas Articles

Issue

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January Issue 1 2015

Near-term effect of price plunge to be muted

There have been few other times when Alaska’s oil and gas industry started a new year with such uncertainty. Alaska North Slope sales prices ended the year at about half what they were six months ago in July. The immediate impacts will certainly be less severe than they will be in the booming shale oil plays of North Dakota and Texas, were there are predictions that half the drill rigs working will be laid down within a few weeks.

December Issue 4 2014

Oil price collapse overshadowed 2014 politics

The collapse of oil prices sent shock waves through state government and Alaska’s business community late in the year. Prices dropped from $110 per barrel in July to about $56 per barrel in mid-December. State revenues, about 90 percent dependent on oil taxes and royalties, are now estimated to be about half of what was predicted earlier, about $2.5 billion in unrestricted general fund revenue, down from about $5 billion.

December Issue 4 2014

Year in review: no decline, drilling hits record

Alaska’s oil and gas producers achieved what many thought was unthinkable last year. In state fiscal year 2014, which ended last June 30, there was almost zero decline in production. Output from producing oil fields averaged about 531,000 barrels per day, virtually the same as the previous year.

December Issue 3 2014

Interior Energy Project remains in limbo

​Self-imposed deadlines have come and gone and the future of the Interior Energy Project is in doubt. Project team members from the Alaska Industrial Development and Export Authority and its partner firm MWH Global Inc. were unable to present the AIDEA board of directors with a financial package to move the energy plan forward at its Dec. 16 meeting.

Miller Energy Resources closes on Badami deal December Issue 3 2014

Miller Energy Resources closes on Badami deal

There’s a new operating company in the North Slope oil fields, but also one less. Tennessee-based independent Miller Energy Resources closed on its acquisition of Savant Alaska LLC and that company’s North Slope holdings Dec. 12, including a 67.5 percent interest in the small Badami oil field 35 miles east of Prudhoe Bay.

December Issue 3 2014

AIDEA expands study funds for Port Mac LNG