alaska – Page 6 – Oil & Gas 360

Armstrong Oil & Gas Defies Industry Bears, Boosts Stake in Alaska with $800 Million Transaction

October 14, 2015

Repsol Sells Portion of Interest, Dials Back Development Plans Armstrong Oil & Gas, a private exploration and production company headquartered in Denver, Colorado, is backing up its optimism for hydrocarbon production in Alaska. On October 13, 2015, the company increased its stake in the Colville River Delta region on Alaska’s North Slope for total consideration of more than $800 million.

Shell Pulls Arctic Plug, Looks at $4.1 Billion in Impairments

September 28, 2015

Decision to leave the Alaskan Arctic a combination of factors Royal Dutch Shell (ticker: RDSA) announced today that it plans to put an end to its operation offshore Alaska, according to a company press release. The news came following results from the company’s Burger J exploration well, which was drilled to a total depth of 6,800 feet. While the company

Pennsylvania Receives Less from Oil and Gas Tax Revenue than Texas, Alaska

August 24, 2015

Via Philadelphia Business Journal Pennsylvania gets smaller share of tax revenue from oil and gas extraction than Texas, Alaska Less than 1 percent of Pennsylvania’s tax revenue comes from taxes and fees generated directly from the extraction of oil and natural gas, according to a new report. The Keystone State is the second-biggest natural gas producer in the U.S. but

Can Shell Encourage Investment in Alaska’s Hydrocarbon Sector?

June 12, 2015

Protestors in petroleum-based kayaks may be dominating headlines in Seattle, but Royal Dutch Shell’s (ticker: RDS.B) state of the art rig may help revitalize a prominent part of the U.S. energy sector that has been in decline for more than 20 years. Since 1991, Alaska’s crude production has slipped to 500 MBOPD from 1,800 MBOPD. The slide is expected to

Murkowski Puts Forward New Offshore Legislation

May 20, 2015

Pushing for larger share of offshore oil and gas revenues U.S. Senator Lisa Murkowski – Alaska Alaska’s Senator Lisa Murkowski put forward new legislation last week that hopes to bring more revenue from oil and natural gas production on Alaska’s outer continental shelf (OCS) back to the state. The bill, S. 1278, will “ensure revenue sharing for the state and

Shell Prepares to Go Back to the Arctic

May 4, 2015

Shell exec has eyes set to the North Royal Dutch Shell (ticker: RDSA) is preparing to return to the Arctic and begin exploring for the first time since 2012, according to Chief Financial Officer Simon Henry. Henry said the oil major is preparing “an armada of 25 vessels” to begin a two-year program to explore two to three wells in

At $51 Billion, Alaska’s Hydrocarbons Fuel the Country’s Largest Trust Fund: EIA

May 1, 2015

State’s Permanent Fund Pays Annual Cash Dividend to All Residents The 49th state has its perks. All Alaskans get an annual dividend check from the state. In 2014 their checks were $16 shy of $1,900 per resident. Residents can thank their state for the royalties generated by oil and gas production on state lands that go into The Alaska Permanent Fund, established in

With 50 Billion Barrels Awaiting the Drill Bit, Alaska’s New Governor wants to Slash the Time Between Lease Acquisition and Drill Rotation

April 22, 2015

An OAG360® Exclusive: Interview with Alaska Governor Bill Walker Listen to the interview Alaska Governor Bill Walker Alaska’s North Slope has produced more than 17 billion barrels of oil since the discovery of the Prudhoe Bay oil field in 1968, when Arco’s Prudhoe Bay State No. 1 exploratory well produced oil at a maximum test rate of 2,415 barrels per

Obama Administration Announcement on ANWR Enrages Critics

January 27, 2015

The Obama Administration’s announcement of plans to expand protection in ANWR is a ‘declaration of war’ says Alaskan Congresswoman The White House released a revised Comprehensive Conservation Plan Sunday, which will designate 12.28 million acres in Alaska’s Arctic National Wildlife Refuge (ANWR) as wilderness. The new designation would mean that no new drilling could take place in the region. The

Despite Road Bumps for Other Projects, Alaska LNG Moves Forward

January 12, 2015

Alaska’s LNG “gigaproject” moving forward despite low prices While many liquid natural gas (LNG) projects are being put on the back burner due to the low oil price environment, the Alaska LNG project continues to march on. The project, which is being developed by a partnership including energy majors BP (ticker: BP), ExxonMobil (ticker: XOM), ConocoPhillips (ticker: COP) and TransCanada

Alaska Faces $3.5 Billion Deficit as Oil Prices Drop

December 12, 2014

Alaska’s revenue forecast, released Wednesday, predicts a deficit of $3.5 billion, an increase of $2.1 billion from what lawmakers expected in April. The forecast expects unrestricted general fund revenue of $2.6 billion this year, down from $5.4 billion in 2014, reports Fox Business. That, combined with about $200 million in anticipated supplemental budget items like oil and gas credits, accounts

Alaska, Russia Race toward LNG Exports

September 10, 2014

Alaska Gasline Development Corporation (AGDC) and affiliates of ExxonMobil (ticker: XOM), TransCanada (ticker: TRP), BP (ticker: BP) and ConocoPhillips (ticker: COP) filed a FERC pre-filing request, effectively launching the early design phases of their Alaska LNG Project, an estimated $65 billion, 20 MM metric ton LNG facility, to be built in the Nikiski area on the Kenai Peninsula. Concurrently, Russia’s

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