The Explorers 2009: Chevron Alaska

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Chevron is one of the largest players in Alaska, but sometimes gets overshadowed by companies that operate more units or run higher profile exploration campaigns. Chevron arrived in Alaska more than 100 years ago, and now holds minority shares in the Prudhoe Bay and Point Thomson units, and leases in the Arctic National Wildlife Refuge, as well as a large oil and natural gas operation in Cook Inlet. The company also owns a share of the trans-Alaska oil pipeline.

A 2005 acquisition of Unocal re-energized the company’s exploration efforts in northern Alaska, primarily at the White Hills prospect in the central North Slope, south of the Kuparuk River unit. Chevron is not releasing details or results from recent drilling, but state filings suggest the company drilled three wells at White Hills in early 2008 and two more in early 2009. Although Chevron has not detailed future plans at White Hills, the company previously permitted other well locations in the region, where it holds 70 percent ownership of the leases with the French company Total owning the remaining 30 percent.

Chevron also maintains active operations in the Cook Inlet basin. In recent years, the company made moves to drill for natural gas at the Nikolaevsk unit on the southern Kenai Peninsula and to drill at satellites of the legacy Swanson River oil field. The company is also dealing with the aftermath of the eruptions at Mount Redoubt, which shut down the Drift River oil terminal and Chevron’s offshore platforms. Chevron and Unocal lease some 385,000 acres of state land in Alaska.

Current exploration focus

Cook Inlet: has been drilling for new oil from its Cook Inlet offshore platforms. Also drilling delineation and development wells in gas fields on the Kenai Peninsula and the west side of the Cook Inlet.