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
Oil production rose in 2016, 2017, expected to rise in 2018 Most attention in the U.S. oil and gas industry has focused on unconventionals with the Permian basin being the hottest of the hot shale plays based on operator activity, industry employment and deal flow. However a mere 3,814 miles and 63 hours away by car, lies a conventional oil
Dealing with costly delays in getting tankers through the Panama Canal may slow down U.S. LNG shipments, according to Octavio Simoes, president of LNG export terminal developer Sempra LNG & Midstream. Bloomberg reported that Simoes calculated that every day a cargo is held up at the canal can cost a trader $45,000. Simoes was speaking at Energy Dialogues LLC’s North American Gas
Order also calls for updating ANWR resource assessments U.S. Secretary of the Interior Ryan Zinke signed a secretarial order to jump-start Alaskan energy production in the National Petroleum Reserve – Alaska (NPR-A) and update resource assessments for areas of the North Slope, including the “1002 area” of the Arctic National Wildlife Refuge (ANWR). “Working with the Alaska Native community, Interior will identify areas
Alaska determined to be an LNG exporter even when the oil and gas companies have bailed Alaska’s KTVA11 reported last night that the Alaska Gasline Development Corporation (AGDC) said in a presentation before the Senate Resources Committee on Monday that it is in discussions with ConocoPhillips (ticker: COP) about purchasing its liquefaction plant in Nikiski. Rosetta Alcantra, an AGDC spokeswoman, told KTVA
White House removes 43,000 sq. miles and 3 Tcf of natural gas potential from offshore Alaska On Nov. 9, the president signed an executive order creating the Northern Bering Sea Climate Resilience Area. “This area, encompassing 112,300 square miles, represents a hugely productive, high-latitude ocean ecosystem and supports one of the largest seasonal marine mammal migrations in the world, including thousands of bowhead
From Alaska Dispatch News ConocoPhillips said Thursday it’s in the “initial stages” of trying to sell its plant on the Kenai Peninsula that for nearly 50 years liquefied natural gas from Cook Inlet for export to overseas markets. The company, adjusting to low oil and LNG prices that have battered the industry, cited “market conditions” in a statement issued Thursday. It
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