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The Producers 2017

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  • More prospects located - 11/19/2017 (Full story) By using a new seismic survey technique ConocoPhillips has identified new untested potential oil traps on Alaska's North Slope, Al Hirshberg, the company's executive vice president for drilling and projects, commented during the company's annual analyst and investor meeting on Nov. 8. Matt Fox, Cono....

  • First oil at 1H NEWS - 11/19/2017 (Full story) There is tremendous opportunity for ConocoPhillips on the North Slope, but there are challenges and capital is scarce, Lisa Bruner, the company's vice president of North Slope operations and development, told the Resource Development Council's annual conference Nov. 15 in Anchorage. An example of b....

  • Oil price continues climb - 11/19/2017 (Full story) Continuing from what had already been characterized in mid-October as a bull market for oil, the oil price has maintained its upwards trajectory. Brent crude passed $60 per barrel on Oct. 27 and reached a peak of $64.26 on Nov. 6, according to data from oilprice.com. Since then the price has slightl....

  • Rumors of Great Bear closing false; Oil Search staffing up - 11/19/2017 (Login to read Full story) Rumors of Great Bear Petroleum Operating LLC closing its doors are false, and probably stem from the Anchorage-based company letting go some of its technical people, Pat Galvin, Great Bear's chief commercial officer and general counsel, recently told Petroleum News. “Great Bear currently holds outs....

  • IGU Pentex decision set for Dec. 5 - 11/19/2017 (Login to read Full story) The Interior Gas Utility has moved the date for its decision on whether to purchase Pentex Natural Gas Co. from Nov. 28 to the IGU board meeting on Dec. 5. During its Nov. 7 meeting the IGU board had indicated a Nov. 28 decision date but, as reported by the Fairbanks Daily News-Miner, the date was l....

  • Continued questions over AOGCC bonding - 11/19/2017 (Login to read Full story) Ahead of a bankruptcy court hearing on Nov. 17 there have been court filings, questioning an order by the Alaska Oil and Gas Conservation Commission, requiring Aurora Exploration to post a $3.6 million surety bond if the company is to purchase the Nicolai Creek gas field from Aurora Gas. Aurora Gas....

  • EIA estimates US crude at 9.3 million bpd - 11/19/2017 (Login to read Full story) West Texas Intermediate crude oil prices are forecast to be some $5 per barrel lower than Brent in 2018, the U.S. Energy Information Administration said in its November Short-Term Energy Outlook. “Brent crude oil prices averaged almost $58 per barrel in October, the highest monthly average since Ju....

  • USCG Arctic Shield 2017 program ends - 11/19/2017 (Login to read Full story) The U.S. Coast Guard has closed down its Arctic Shield 2017 operations, the agency announced Nov. 7. Arctic Shield, which began in 2009, involves deploying assets and personnel in the Arctic region during the open water season, in response to increased maritime activity in the region in recent years....

  • ARCTEC plans reliability organization - 11/19/2017 (Login to read Full story) The Alaska Railbelt Cooperative Transmission and Electric Co. has notified the Regulatory Commission of Alaska that it has issued a request for proposal, seeking a facilitator for the formation of a Railbelt Reliability Council for the Alaska Railbelt electricity transmission grid. Although initiall....

  • AGDC inks MOU with PetroVietnam Gas - 11/19/2017 (Login to read Full story) In a second announcement coming from President Donald Trump's recent Asian trip, the Alaska Gasline Development Corp. said Nov. 12 that it signed a memorandum of understanding with PetroVietnam Gas in Hanoi, setting forth the basic principles to collaborate on potential opportunities of LNG supply f....

  • How Oil Search views Nanushuk development - 11/19/2017 (Login to read Full story) As reported in the Nov. 5 issue of Petroleum News, Oil Search is in the process of acquiring a portion of Armstrong Energy and GMT Exploration's Pikka and Horseshoe assets for $400 million. Oil Search, which operates in Papua New Guinea, said that amount is for an estimated discovery of some 500 mil....

  • Division set to release East Umiat seismic - 11/19/2017 (Login to read Full story) Alaska's Division of Oil and Gas has announced that within 30 days it will release to the public the data from the East Umiat 3-D seismic surge conducted by PGS Onshore Inc. a number of years ago. The release comes as a consequence of terms associated with exploration tax credits enacted in 2003 by....

  • Produced water spill at Kuparuk CPF3 - 11/19/2017 (Login to read Full story) ConocoPhillips Alaska had a produced water spill at Central Production Facility 3 at the Kuparuk River field Nov. 15. In a situation report the Alaska Department of Environmental Conservation's Division of Spill Prevention and Response said the spill was discovered at 10:40 a.m. Nov. 15 and involved....

  • Oil Patch Bits: Rose joins Global as director of business development - 11/19/2017 (Full story) Eric Rose, formerly of Weiler Products and Caterpillar, has joined Global Diving & Salvage Inc. as director of business development. He is responsible for the marine service company's long-term revenue generation, and the support of Global's regions and service lines, including marine construction,....


  • The Producers 2017: A year of uncertainty for Alaska - 11/19/2017 (Full story) Putting together The Producers each year usually requires some last-minute revisions, as we try to incorporate the latest development activities and new plans for the year ahead. This year was more uncertain than most. As we were wrapping up the issue: Aurora Exploration was bumping into obstacles i....

  • The Producers 2017: AIX working within means at Kenai Loop - 11/19/2017 (Full story) The history of the Kenai Loop gas field shows how two companies with different philosophies can employ different strategies when it comes to operating a given property. Since assuming control of Kenai Loop in late 2014, AIX Energy LLC has taken a much more cautious approach than its predecessor — th....

  • The Producers 2017: Nicolai Creek future remains uncertain - 11/19/2017 (Full story) As The Producers was going to print, Aurora Exploration LLC was working through obstacles blocking its acquisition of the Nicolai Creek field from Aurora Gas LLC. In a confusing twist, Aurora Gas and Aurora Exploration are completely separate companies, despite their similar names and a shared hist....

  • The Producers 2017: BP wants stable production amid cuts - 11/19/2017 (Full story) BP Exploration (Alaska) Inc. responded to the current economic climate with a drastic reduction in drilling activity at the Prudhoe Bay unit, the only unit it operates in Alaska. The local subsidiary of the global energy company drilled 75 development wells at the North Slope unit in 2015, 43 wells....

  • The Producers 2017: BRPC working on 2019 Mustang start-up - 11/19/2017 (Full story) In its most recent plan of development for the Southern Miluveach unit, Brooks Range Petroleum Corp. said it expected to bring the Mustang field into production in early 2019. The proposed target is more than a year beyond a December 2017 deadline imposed by the state Division of Oil and Gas, under....

  • The Producers 2017: Caelus maintains Oooguruk suspension - 11/19/2017 (Full story) After suspending development drilling at its Oooguruk unit in May 2016, Caelus Energy Alaska LLC expressed its long-term confidence in the North Slope unit by saying it would begin drilling again “when oil prices recover and investor confidence resumes.” Apparently, neither condition has yet occurre....

  • The Producers 2017: ConocoPhillips advancing several projects - 11/19/2017 (Full story) ConocoPhillips Alaska Inc. is the most active operator on the North Slope and one of the few companies sanctioning new North Slope developments despite the economic climate. The local subsidiary of the largest independent exploration and production company in the world was not totally immune to larg....

  • The Producers 2017: Eni favors exploration at Nikaitchuq - 11/19/2017 (Full story) A year ago, Eni US Operating Co. Inc. was hoping to end its drilling suspension at the Nikaitchuq unit in early 2017, pending an improvement in the price of crude oil. Even though oil prices improved some in late 2016, the rise was apparently too slight and too uncertain for Eni. The company maintai....

  • The Producers 2017: A new plan for Exxon at Point Thomson - 11/19/2017 (Full story) ExxonMobil Alaska Production Inc. started production from the Point Thomson unit in April 2016 after decades of deliberation and litigation and years of construction. And as this edition of The Producers was going to print, a new debate was emerging at the unit. Earlier this year, the local subsidia....

  • The Producers 2017: Furie blames state for lack of drilling - 11/19/2017 (Full story) After a summer of uncertainty at the Kitchen Lights unit, Furie Operating Alaska LLC recently blamed state fiscal policy for thwarting its drilling activities for this year. The local independent planned to use the Randolph Yost jack-up rig this summer to complete the KLU No. A-1 well at the offsho....

  • The Producers 2017: Glacier being cautious at four fields - 11/19/2017 (Full story) Glacier Oil & Gas Corp. took a cautious approach to development after it acquired the Alaska assets of Miller Energy Resources Ltd. in a bankruptcy case in early 2016. The current economic situation has increased that caution. After rightsizing its portfolio and deferring some exploration work, the....

  • The Producers 2017: Hilcorp continues Cook Inlet dominance - 11/19/2017 (Full story) Hilcorp Alaska LLC has been the dominant producer in the Cook Inlet basin since it arrived in Alaska five years ago, and its dominance seems to increase with each year. The local subsidiary of the Texas-based independent currently operates about 20 fields and units — a number that occasionally fluct....

  • The Producers 2017: Hilcorp ramping up North Slope work - 11/19/2017 (Full story) Hilcorp Alaska LLC is taking a phased approach to its North Slope properties. The local subsidiary of the Texas-based independent is several years into its efforts to improve production at the Milne Point unit, just beginning major development work at the Duck Island unit and still involved in preli....

  • The Producers 2017: Barrow gas fields remain steady - 11/19/2017 (Full story) Residents of the northernmost city in America recently voted to rename their city Utqiagvik. But, for now, their local energy source is still called the Barrow gas fields. Contractors working for the federal government discovered the South Barrow, East Barrow and Walakpa fields on separate expediti....

  • Petroleum News also offers a News Bulletin Service.
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    Note: Unlike Petroleum News, the News Bulletin Service covers Alaska only; delivering important oil and gas news as it breaks.

  • Interior releases final well control regulations 04/14/2016
  • RCA approves ML&P, Chugach Electric gas field purchase 04/22/2016
  • ExxonMobil starts Point Thomson production 04/22/2016
  • Court rejects appeal against Shell air permits 12/26/2012
  • Furie permitting Kitchen Lights development 12/05/2012
  • Conoco applies for Bear Tooth permit 12/03/2012

    The eAlert News Bulletin Service is our premier information service. Often delivered multiple times per week by email, it provides the latest breaking news for the oil and gas industry.









































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