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Below are articles from this week's edition of Petroleum News. Subscribers must log in above to view the complete articles. Subscribe now for full access.
  • Recovering demand - 05/24/2020 (Login to read Full story) “Is this for real?” seems to be on the lips of all oil market analysts since crude began its climb into the $30-plus per barrel range. And while some say it is based on solid numbers, almost all agree oil markets are reactionary — if pandemic related lockdowns re-emerge, prices will drop. Still, the....

  • Mustang in loan limbo - 05/24/2020 (Login to read Full story) The Mustang development loan once again was the subject of an executive session at a board meeting of the Alaska Industrial Development and Export Authority on May 20. The confidential session was not expected to produce a resolution to the delinquent status of the loan, and it lived up to those exp....

  • Sidebar: Bring ownership back - 05/24/2020 (Login to read Full story) When Brooks Range Petroleum Corp. announced the Mustang discovery in 2012, it needed help to bring the field into production, which arrived in mid-2014, when JK E&P Group Pte. Ltd., Thyssen Petroleum North Slope Development LLC and MEP Alaska LLC acquired BRPC and a package of North Slope properties....

  • Norway dumps oil sands - 05/24/2020 (Login to read Full story) Following through on a warning issued last August, the Norwegian sovereign wealth fund, whose investments are valued at US$1 trillion, has started shedding an estimated US$37 billion of investments in companies it views as a barrier to tackling climate change. In Canada's case the list includes most....

  • Alyeska oil prorations now at 95% inventory; supply chain clearing - 05/24/2020 (Full story) Alyeska Pipeline Service Co. has adjusted oil flow prorations on the trans-Alaska pipeline system to a 95% proration as of May 15, up from an 85% proration in place earlier in May. “At TAPS, we're confident the supply chain has stabilized,” We're ramping back up and as of last Friday are back to saf....

  • RCA opens docket for SB123 regs - 05/24/2020 (Login to read Full story) The Regulatory Commission of Alaska has opened a docket for developing regulations for implementing new statutes introduced by Senate Bill 123, a bill enabling the commission to regulate electric reliability organizations, referred to as EROs. The bill also grants the RCA regulatory authority over t....

  • Alaska posts new Cook Inlet and North Slope activity maps - 05/24/2020 (Login to read Full story) The latest North Slope and Cook Inlet oil and gas activity maps were posted on the Alaska Department of Natural Resources' Division of Oil and Gas website on May 18. The Cook Inlet map highlights recently completed activity, with private sector 2020 work by two companies — Hilcorp and Cook Inlet En....

  • Suncor wields the axe - 05/24/2020 (Login to read Full story) Suncor Energy, the powerhouse in Alberta's oil sands, took the knife to its prized dividend at the same time Chief Executive Officer Mark Little issued a warning that recovery of oil demand will “take some time” and happen only “when people can stop self-isolating.” That has spelled an end to 18 yea....

  • BOEM issues new air quality regulations - 05/24/2020 (Login to read Full story) The federal Bureau of Ocean Energy Management has issued a final rule for changes to the air quality regulations applicable to activities on the U.S. outer continental shelf, including offshore oil and gas operations subject to Department of the Interior oversight. Offshore operators, when filing pl....

  • State approves Colville River unit POD - 05/24/2020 (Full story) The Alaska Department of Natural Resources' Division of Oil and Gas has approved ConocoPhillips Alaska's 22nd plan of development for the Colville River unit. The division said in its May 11 approval that it received the plan prior to major disruptions caused by the coronavirus pandemic — the POD w....

  • BLM closes NPR-A for tundra travel - 05/24/2020 (Login to read Full story) The federal Bureau of Land Management's Arctic District Office closed the National Petroleum Reserve-Alaska for winter overland tundra travel effective 12:01 a.m. May 15. BLM said snow and weather conditions in NPR-A “are no longer adequate for winter overland tundra travel.” The BLM action ends a....


  • AOGCC confirms $30,000 Hilcorp fine - 05/24/2020 (Login to read Full story) In March the Alaska Oil and Gas Conservation proposed fining Hilcorp Alaska $30,000 for failure to submit required meter performance reports for the Beaver Creek unit. The commission confirmed the fine in a May 14 order. It said Hilcorp has not disputed either the findings in the March notice or th....

  • Pay leeway in April Alaska lease activity - 05/24/2020 (Login to read Full story) The April lease report from the Alaska Department of Natural Resources' Division of Oil and Gas shows Brooks Range Petroleum Corp. getting four lease rental payment extensions on April 30. The leases are west and southwest of the Southern Miluveach unit between SMU and the Pikka unit — they are not....

  • US rig count continues down: new low 339 - 05/24/2020 (Login to read Full story) The count of rotary rigs drilling in the U.S., issued weekly by Baker Hughes since 1944, reached a new low of 339 for the week ending May 15. The May 8 count, 374, had broken the old low record of 404 set in May 2016. The May 15 count was down 35 from the previous week and down 648 from a year ago....

  • Alyeska gets USCG environmental award - 05/24/2020 (Login to read Full story) Alyeska Pipeline Service Co. has earned the gold-level 2020 Biennial Rear Admiral William M. Benkert Marine Environmental Protection Award for Excellence, presented by the U.S. Coast Guard to honor members of the marine industry for excellence in areas of marine safety and environmental protection.....

  • DNR releases draft North Slope area plan - 05/24/2020 (Login to read Full story) The Alaska Department of Natural Resources is seeking public review and comment on a draft of the North Slope Area Plan, which, the department said, will be a blueprint for activity on North Slope state land and waters for the next 20 years. DNR said the plan will classify some 12 million acres of....

  • Badami shuts down oil production - 05/24/2020 (Login to read Full story) Editor's Note: The following bulletin was emailed to all Petroleum News subscribers on May 1 but was inadvertently omitted from the next weekly issue of the newspaper. Oil production from the eastern North Slope Badami unit is being shut-in, likely due to the low price of Alaska crude, although fiel....

  • AGDC receives FERC approval - 05/24/2020 (Login to read Full story) The Alaska Gasline Development Corp. said May 21 that it has received authorization from the Federal Energy Regulatory Commission to construct and operate the Alaska LNG project. “Today's federal authorization is a key step in determining if Alaska LNG is competitive and economically beneficial for....

  • Oil Patch bits: New features added to Lynden's mobile app - 05/24/2020 (Login to read Full story) As reported by Lynden News May 12, Lynden's mobile app recently received updates, including expanded GPS map tracking and shipment detail. The app has also been updated for compatibility with iOS 13 and Android 10 and is available now in the App Store and Google Play store. Improvements were based o....

  • Oil Patch bits: Norum takes gavel as new ATA president - 05/24/2020 (Login to read Full story) As reported by Lynden News May 12, Lynden's mobile app recently received updates, including expanded GPS map tracking and shipment detail. The app has also been updated for compatibility with iOS 13 and Android 10 and is available now in the App Store and Google Play store. Improvements were based o....

  • Paid message to elected officials from oilman Jim White: - 05/24/2020 (Login to read Full story) The true backbones of Alaska are the Alaska Natives, pre-statehood residents and homesteaders that voted and created this great state are the forgotten real heroes of Alaska “RESULTS ALWAYS DEFINE INTENT” Alaska has been a state the last 60+ years. Since Alaska became a state some 60 years ago, not....

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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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