From the Alaska Journal of Commerce After buying a mothballed liquefied natural gas export plant in Nikiski, Marathon Petroleum is planning to flip it around to become an import terminal. Marathon Petroleum, the newly-merged oil and gas giant formerly known as Tesoro and then Andeavor, owns the former ConocoPhillips LNG terminal on Cook Inlet and the refinery directly across the
CEOs rank Texas at the top, California at the bottom Chief Executive magazine has published its newest list of the best and worst states for business. Texas ranked Number One—again. California is Number 50—again. In the executive summary of its findings, the magazine quoted a consultant as saying: ” ‘the Chief Executive ranking … reflects what decision-makers are saying. And it’s what
from Hellenic Shipping News/Platts As Alaska’s oil production declines, enormous attention is being paid to even the slightest hint of a find that could turn the state’s fortunes around. Much hope has been pinned on the development of the Nanushuk, a broadly-dispersed set of rocks along the Colville River that extends west into the National Petroleum Reserve-Alaska. Some companies have had
Overall Rig Count Up Four By Richard Rostad, analyst, Oil & Gas 360 Drilling activity expanded in the U.S. this week, partially making up for the decline seen last week, according to Baker Hughes. A net four rigs began drilling in the country, a change from the 14 that shut down last week. There are now 1,049 rigs active in
From Hellenic Shipping News Rapid technology advances are allowing explorers and producers in Alaska to add hundreds of millions of barrels of new resources to portfolios at a cost competitive with finding oil in the Lower 48 states. Chief among the technologies being used are advanced 3-D seismic and new data processing techniques, to define and map oil deposits in
From EE News Against the backdrop of a bitter government shutdown, the new bipartisan leaders of the Senate Energy and Natural Resources Committee are forging ahead with setting the panel’s agenda for the 116th Congress, huddling this week to talk business before landing at a house party hosted by former ENR Chairwoman Mary Landrieu (D-La.). Following their first meeting this
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
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