TG World gets loan using PPT credits 09/05/2010
TG World Energy recently announced that it used Alaska tax credits to secure a loan. The Calgary-based independent, which is exploring several prospects on the North Slope as part of a joint venture l...

ACES: more bad than good 03/21/2010
House panel hears mostly nays, a few yeas, on results of ACES production tax
When House Resources heard comments from industry March 10 on its proposed changes to Alaska's current production tax it heard a litany of woes about what is wrong with ACES, Alaska's Clear and Equita...

BP earns $1.89B in '09 03/14/2010
Company sees slight drop in Alaska profits, big drop in sales and taxes
BP Exploration (Alaska)'s 2009 balance sheet provides a pretty good example of how the progressive nature of Alaska production taxes impacts profits for a major oil company. BP earned $1.89 billion in...

Revenue responds to ACES tax concerns 02/07/2010
Both oil industry investment and employment have increased since the introduction of both the state's ACES production tax and the preceding form of the tax, known as PPT, said Alaska Commissioner of R...

ACES: working well but needs adjustment 01/24/2010
Parnell says that the tax credit rules could be improved to provide further exploration and development incentives; no rate changes
When on Jan. 14 Alaska Gov. Sean Parnell announced his administration's proposals for some changes to the state's ACES oil production tax, he said that he is conscious of industry's need for a stable...

ACES hot topic as Legislature convenes 01/24/2010
Some legislators concerned tax may be anti-competitive; some want more information; others want state to get something for changes
Whether the Alaska Legislature will make changes in the state's oil and gas production tax this year is an unknown, but the tax was a popular topic as legislators began the 2010 session on Jan. 19. T...

State: oil at $67 in FY 2010 12/13/2009
State expect prices to rise through 2019, production to rise slightly in 2013 before falling again; Galvin says industry spending expected to be $4.5B in FY 2010, $5B in FY 2011
When the State of Alaska released its revenue forecast in December 2008, guessing the price of oil in the coming year seemed as reliable as guessing the weather in the coming year. In the previous six...

Seeking answers 12/13/2009
15 lawmakers ask Parnell if state oil tax policy helps or hurts Alaska investment
A group of leading state legislators on Dec. 4 asked Gov. Sean Parnell for a raft of information they want to use to evaluate whether the 2007 oil tax reform is helping or hurting industry investment...

Oil Patch Insider: Alaska well drilling activity varies somewhat year-to-year 11/08/2009
On page 17 of this issue there is a chart showing the number of oil and gas wells drilled in Alaska in the January to September period for 2005 through 2009. New well numbers are almost the same for...

Oil Patch Insider: More ACES trivia: Conoco's state tax jumps from $537 million in 2005 to $3.4 billion in 2008 11/01/2009
Petroleum News recently reported that Alaska oil and gas production makes up about 12 percent of ConocoPhillips' worldwide output, but yielded more than 55 percent of the company's EandP profit in the s...

TransCanada-Exxon plan has Thomson line 06/21/2009
ExxonMobil to lead integrated Alaska pipeline project team; TransCanada will keep Alaska technical lead through open season
While TransCanada will head the management committee for the joint TransCanada-ExxonMobil Alaska pipeline project announced June 11, ExxonMobil will lead the integrated project team. "During its deve...

The Explorers 2008: ConocoPhillips searching near and far 11/23/2008
Biggest producer in Alaska focusing exploration on NPR-A and Chukchi, while pursuing gas pipeline
In its ongoing effort to develop the resources of northern Alaska, ConocoPhillips has embraced westward expansion with a dual approach: big leaps and tiny steps. On the one hand, the Houston-based me...

Licensees seek more time for Nenana 09/21/2008
Joint holders Doyon, ASRC and Usibelli ask state to extend basin exploration license to full 10-year term to continue work program
Faced with the prospect of their state license to explore the Nenana basin terminating in September 2009, joint licensees Doyon Ltd, Arctic Slope Regional Corp. and Usibelli Energy have applied to the...

TG World claimed $8.7M in PPT credits 06/01/2008
TG World Energy Corp. claimed $8.7 million in State of Alaska exploration tax credits in 2007, according to recent company filings. The Calgary-based independent claimed $3.6 million through the first...

Pioneer made $75 million from tax credits in 2007 03/02/2008
Although Pioneer does not yet have production in Alaska, the company still brought in revenue from its Alaska operations in 2007. The company earned $74.9 million in 2007 by selling and reimbursing pe...