NEWS BULLETIN

May 02, 2003 --- Vol. 9, No. 47May 2003

ANS production down 5 percent for April

Alaska North Slope average daily production dropped 5.4 percent in April, pulled down by planned maintenance at Point McIntyre and a compressor seal replacement at Northstar.

ANS production averaged 988,945 barrels per day in April, down from 1,044,921 bpd in March.

Lisburne production which includes Point McIntyre and Niakuk dropped 32.6 percent from March to April, averaging 46,042 bpd in April compared to 68,323 bpd in March. The Alaska Department of Revenue said there was planned maintenance in the greater Point McIntyre area April 4-17.

At Northstar, down for compressor seal replacement April 14-25, average production was 45,156 bpd in April, down 28.3 percent from a March average of 62,966 bpd.

Production also dropped at Prudhoe Bay, averaging 494,795 bpd in April, a drop of 3.5 percent from March's 512,570 bpd. Alpine dropped just under 1 percent, averaging 104,047 bpd in April compared to 105,032 bpd in March. Milne Point had a similar decline, averaging 52,448 bpd in April, down from 52,916 bpd in March.

The production increased from March to April at two North Slope fields, Kuparuk River and Endicott. Kuparuk averaged 213,175 bpd in April, up less than half a percent from a March level of 212,393 bpd. Endicott was up 8.34 percent, averaging 33,282 bpd compared to 30,721 bpd in March.

Cook Inlet production averaged 29,255 bpd in April, up 4.9 percent from a March average of 27,882 bpd.

Semco selling Alaska Pipeline Co.

Semco Energy said May 1 that it is discussing the sale of Alaska Pipeline Co. with potential buyers and has retained McDonald Investments to assist in the sale.

Marcus Jackson, Semco chairman, president and CEO, said in a report on the company's first quarter results and potential sale of certain assets that a sale is expected to close in the latter half of 2003 subject to approvals, including that of the Regulatory Commission of Alaska. Proceeds of the sale would be used to reduce outstanding debt.

Alaska Pipeline delivers natural gas from several producing fields in Southcentral Alaska to the Enstar Natural Gas distribution system. Semco said Alaska Pipeline is the only natural gas transmission line in Anchorage. It has no employees and Enstar is its only customer.

The company said that under the proposed terms of a sale, Enstar would continue to operate and manage Alaska Pipeline's transmission pipelines and customers and gas suppliers would not see any changes.

CORRECTION

An item in the April 30 news bulletin item on BP North Slope lease sales was incorrect.

BP Exploration (Alaska) had planned to notify successful bidders for its North Slope acreage by Oct. 1.

BP spokesman Daren Beaudo told Petroleum News the company's goal now is to provide quick turnaround in notification after the May 6 bid close one to two weeks to allow successful bidders planning time before fall North Slope lease sales.


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