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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.
  • Slope sales draw $7M - 01/17/2021 (Login to read Full story) The Alaska Department of Natural Resources' Division of Oil and Gas unveiled results from its North Slope, Beaufort Sea and North Slope Foothills areawide sales Jan. 13, with the Slope drawing some $6.8 million and the Beaufort just over $200,000 in bids; there were no bids in the Foothills sale. T....

  • ANS crude clears $57 - 01/17/2021 (Full story) Alaska North Slope crude cleared the $57 mark Jan. 12, vaulting $1.08 to close at $57.23 per barrel, a new post-pandemic high. Major crude indexes joined ANS to hit levels not seen since February 2020, approaching one-year highs. Brent crude rose 92 cents to close at $57.23, and U.S. West Texas Inte....

  • TMX coming to a boil - 01/17/2021 (Login to read Full story) Expansion of Trans Mountain's oil pipeline across British Columbia is being dragged into the spotlight to face what could be the ultimate test of its hopes to start pumping an extra 590,00 barrels per day of oil sands bitumen to a Vancouver export terminal by late 2022. While attention on the C$12.6....

  • Oil patch insider: Talitha well spud; ANWR outsider; All not dire for oil under Biden - 01/17/2021 (Login to read Full story) Pantheon Resources plc, the AIM-quoted oil and gas exploration company with working interests of 89.2% to 100% in Great Bear North Slope projects, said it spud the Talitha A well ahead of schedule on Jan. 13. The well, which the company describes as an appraisal well and the state labels an explorat....

  • NOAA fisheries proposes large Arctic seal critical habitat areas - 01/17/2021 (Login to read Full story) NOAA Fisheries has proposed designating critical habitat areas for ringed and bearded seals, two seal species which inhabit Arctic waters off the coast of Alaska. Both species have previously been designated as threatened under the Endangered Species Act. The critical habitat areas encompass all U.S....

  • Navy delivers strategy for Arctic ops as countries compete for oil - 01/17/2021 (Login to read Full story) On Jan. 5 the U.S. Navy rolled out a strategic blueprint for Arctic operations which are expanding due to reduced ice coverage that is making northern sea routes more accessible to resource hungry countries such as China and Russia. “A Blue Arctic” provides an outline of planned operational changes....

  • EIA 2019 reserves report shows Alaska proved reserves up 259M - 01/17/2021 (Login to read Full story) Alaska had the largest annual net increase of proved reserves of crude oil and condensate of any state in 2019, 259 million barrels, the U.S. Energy Information Administration said in its annual proved reserves report for 2019, released Jan. 11. The total includes both producing and proved nonprodu....

  • US drilling rig count rises by 9 to 360 - 01/17/2021 (Login to read Full story) The Baker Hughes U.S. rotary drilling rig count continues to rise, up by nine to 360 for the week ending Jan. 8, but still down substantially, by 421, from a count of 781 a year ago. When the count hit 244 in mid-August last year, it was not just the low for 2020, but the lowest the count has been....

  • EIA: Brent to stay in mid-$50s in 1st qtr - 01/17/2021 (Login to read Full story) The U.S. Energy Information Administration said Jan. 12 in its Short-Term Energy Outlook that Brent crude oil spot prices are forecast to average $53 per barrel in both 2021 and 2022, compared with a 2020 average of $42 per barrel. “EIA expects restrained oil production from OPEC+ countries will li....

  • Hilcorp files amended Northstar ops plan - 01/17/2021 (Login to read Full story) On Jan. 6 Hilcorp Alaska LLC filed an amended 17th plan of development for the Northstar unit with Alaska's Division of Oil and Gas. The POD, which also includes an updated progress report for work done under the 16th POD, covers Feb. 13, 2021, through Feb. 12, 2022. The Northstar oil field is oper....

  • IGU approves Canadian LNG supply contract - 01/17/2021 (Login to read Full story) During its Jan. 5 meeting the board of the Interior Gas Utility approved the signing of a liquefied natural gas supply agreement with Vancouver, British Columbia, LNG producer Cryopeak LNG Solutions Corp. IGU, which supplies natural gas in the Fairbanks region, obtains its gas in the form of LNG fro....

  • Stakes are high for Keystone XL - 01/17/2021 (Login to read Full story) The odds-makers figure they have a sure winner in betting on Joe Biden putting Keystone XL out of its misery by ending 13 years of costly, tortuous struggles by TC Energy (previously TransCanada) to secure enough legal and regulatory victories in the United States to proceed with construction of the....

  • 88 Energy buys Umiat oil fields' 2 tracts - 01/17/2021 (Full story) 88 Energy said Jan. 11 that on Jan. 8 its wholly owned subsidiary Emerald House acquired the Umiat oil field in the National Petroleum Reserve-Alaska from Malamute Energy and Renaissance Umiat. The purchase price was a 4% overriding royalty interest on the two federal leases in the Umiat unit, as we....

  • Sidebar: Promise of deeper oil in northern lease - 01/17/2021 (Login to read Full story) An article in the Feb. 2, 2020, edition of Petroleum News, reported that the new Umiat unit not only contained the shallow Umiat oil field, but possibly a deeper oil target in the northern of its two leases. Discovered in 1945, Umiat was never produced because its reservoir was shallow, partially f....

  • Two LNG carriers on Northern Sea Route - 01/17/2021 (Login to read Full story) Two icebreaking LNG carriers are currently transiting Russia's Northern Sea Route and are about to pass each other in the East Siberian Sea, The Maritime Executive reported on Jan. 11. The vessels are operating without icebreaker escorts, The Maritime Executive said. For a number of years Russia has....

  • Battle Creek Division project wins award - 01/17/2021 (Login to read Full story) The Alaska Energy Authority said Jan. 5 that its West Fork Upper Battle Creek Division has been selected by the American Council of Engineering Companies of Montana for the organizations' 2021 Montana Grand Project Award. The project, designed by DOWL, will increase annual energy production from th....

  • Oil patch bits: Paul Verhagen to leave Fugro after 7 years as CFO - 01/17/2021 (Login to read Full story) The supervisory board of Fugro NV announced Jan. 12 that its Chief Financial Officer Paul Verhagen has decided to leave the company. Verhagen, who joined Fugro as CFO and member of the board of management in 2014, will step down after the annual meeting of shareholders on April 22. He will be nomina....

  • Oil patch bits: Lynden Transport receives SmartWay Award from EPA - 01/17/2021 (Login to read Full story) As reported by Lynden News Jan. 12, Lynden Transport earned a SmartWay High Performer Award from the Environmental Protection Agency for operating efficiencies in its flatbed and reefer fleets. The company is included in the top 20% of national carriers for reducing carbon emissions and achieved top....

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  • Court confirms Furie's plan for Ch. 11 sale to Hex 06/12/2020
  • Restructured, renamed Hex nears closing date on Furie assets 06/04/2020
  • RCA approves Chugach Electric purchase of ML&P 05/29/2020
  • Hilcorp gets approval for Whiskey Gulch strat test plan 05/22/2020
  • Alaska Gasline Development receives FERC approval 05/21/2020

    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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