Horizontal activity highest since February 2015 Drilling activity rose once again in the U.S. this week, extending the increase seen last week according to Baker Hughes Rig Count. A net three rigs began drilling in the week, all land-based. These three rigs mean there are a total of 1,056 land, 24 offshore and three inland waters rigs active in the
From Alaska Journal of Commerce Just about the most expensive crude in North America comes from Alaska’s North Slope. Not that it’s anything all that special, unlike Copper River salmon which fetches a premium price for its high oil content, flavor and color. The geography and markets are just working in our oil-price favor. The past few months, Alaska oil
Taking a chance on overlooked rock formation in Alaska was key From the Anchorage Daily News What companies are calling a “renaissance” at Alaska’s North Slope oil fields can be traced back to a 2013 discovery by a small-scale geologist willing to take big risks. [contextly_sidebar id=”fKDH9RBs2nhWcPVdHHfqtqSPmIwdUi56″] Bill Armstrong is credited with finding massive quantities of oil in an overlooked
Similar to four others offshore Alaska Ryan Zinkie, U.S. Secretary of the Interior, provided more details today regarding a proposed oil and gas development facility in offshore Alaska, the first facility of its type in waters off Alaska if approved. In terms of the specifics of the proposal, the Bureau of Ocean Energy management (BOEM) issued conditional approval to Hilcorp
COP holds 100% working interest After adding more to its Alaskan portfolio, ConocoPhillips (NYSE:COP) has stated that its total of gross discovered resource has been estimated at 0.5-1.1 BBOE, with 100% working interest and 75% of the play yet to be drilled. Looking at the Greater Willow Area the company now estimates its 2016-2018 exploration and appraisal campaign has discovered
ConocoPhillips (NYSE: COP) announced that it has entered into an agreement to sell a ConocoPhillips subsidiary to BP for an undisclosed price. The subsidiary will hold a 16.5 percent interest in the BP-operated Clair Field, with ConocoPhillips retaining a 7.5 percent interest in the field. ConocoPhillips also announced it has entered into simultaneous agreements to acquire BP’s 39.2 percent interest
The Arctic National Wildlife Refuge (ANWR) is located on the northern coast of Alaska, due east of both Prudhoe Bay and the National Petroleum Reserve-Alaska (NPRA). The coastal plain (the 1002 Area) covers 1.5 million acres and is about 8% of the total area of ANWR. In its latest (1998) resource assessment, the United States Geological Survey (USGS) estimated that
ConocoPhillips Company (ticker: COP) reported first quarter 2018 earnings of $0.9 billion, or $0.75 per share. This compares to first quarter 2017 earnings of $0.6 billion, or $0.47 per share. First quarter production, excluding Libya, was 1,224 MBOEPD. Production from Libya was 45 MBOEPD. Conoco said that it grew year-over-year production in the Eagle Ford, Bakken and Delaware by 20%.
Cove Point ships out its first LNG cargo, making Dominion officially the second U.S. LNG exporter leading the new wave of U.S. natural gas global takeaway opportunities – 2 years after Cheniere started the charge On March 1, 2018, Dominion Energy’s (ticker: D) Cove Point LNG export facility in Lusby, Maryland, secured two places in the record books. On Thursday
Offshore rule amendments would save $228 million – BSEE The Trump administration is fulfilling its promise to reduce oil and gas regulation, rolling back offshore and onshore rules. The Bureau of Safety and Environmental Enforcement is considering revising the Production Safety Systems Regulations, regulations concerning offshore operations passed late last year. These rules require operators to use third parties to
From Reuters Italian oil producer Eni this week began drilling a new well in U.S. waters off the north coast of Alaska, becoming the first company to do so since 2015, federal regulators said on Wednesday. The oil and gas firm is working from an artificial island in the Beaufort Sea about three miles off Oliktok Point in the Arctic
A quick background In 1960, the Secretary of the Interior signed an order protecting the northernmost parts of Alaska at the federal level. The order protected 8.9 million acres and named it the Arctic National Wildlife Range. In 1980, President Carter signed the Alaska National Interest Lands Conservation Act (ANILCA) into law, renaming and enlarging the Arctic National Wildlife Refuge
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