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54 tcf possible
- 09/15/2019 (Full story)
An estimated 53.8 trillion cubic feet of undiscovered, technically recoverable natural gas is trapped within methane gas hydrate formations in Alaska's North Slope, the U.S. Geological Survey says in a new geology-based assessment released Sept. 10.
The area assessed extends from the National Petrol....
Expanded sale?
- 09/15/2019 (Full story)
The Alaska Department of Natural Resources' Division of Oil and Gas has a request out for substantial new information for its 2020 Cook Inlet and Alaska Peninsula areawide oil and gas lease sales.
The Alaska Peninsula rarely draws interest and typically there would be limited interest in Cook Inlet....
The unending legal fight
- 09/15/2019 (Login to read Full story)
The legal roller-coaster ride by the Trans Mountain pipeline expansion project, TMX, has taken another downward lurch.
Canada's Federal Court of Appeal has allowed an extension of legal challenges by six First Nations along the pipeline right of way against the latest re-approval of the project.
Th....
Oil patch insider: Feds might not allow Conoco to operate Prudhoe Bay; Gil Mull and Richfield at Katalla - 09/15/2019 (Login to read Full story)
As the three main owners of the Prudhoe Bay oil field hash out who will operate the unit when the deal between BP and Hilcorp closes in 2020, their conversations undoubtedly involve concerns about federal and state approval of Hilcorp's acquisition of BP Exploration (Alaska) and its assets, especial....
Changing of the guard on North Slope; no longer a mature basin - 09/15/2019 (Full story)
The $5.6 billion sale of BP's Alaska business to Hilcorp demonstrates a growing trend and the differing strategies of the majors and private oil and gas players, industry observers say.
“BP was a pioneer in Alaskan drilling and one of the key players in building the Alaskan oil industry, including....
XCD IDs first lead in Peregrine project; Ferguson's take on BP-Hilcorp deal - 09/15/2019 (Login to read Full story)
Alaska-focused oil junior XCD Energy said Sept. 10 that it has identified the first lead within its wholly owned Peregrine project, which is west of the central North Slope on 149,590 acres.
The acreage is on the same Nanushuk oil trend as ConocoPhillips' big Willow discoveries about 22 miles to the....
EIA short term: production up, prices down
- 09/15/2019 (Login to read Full story)
The U.S. Energy Information Administration said in its September Short-Term Energy Outlook, released Sept. 10, that Brent crude oil spot prices averaged $59 per barrel in August, down $5 from July and down $13 per barrel from August 2013, leading EIA to reduce its 2019 Brent forecast to $63 per barr.... |
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Whither the North Slope crude price?
- 09/15/2019 (Login to read Full story)
Alaska North Slope crude oil prices closed at $64.30, up 25 cents on the day Sept. 10, while other major crude indicators fell.
The Brent price was $62.38, down 21 cents, while West Texas Intermediate fell 45 cents, to $57.40. Henry Hub natural gas price at close was $2.58, off a single penny.
On th....
Crescent Point sheds assets, targets debt
- 09/15/2019 (Login to read Full story)
Crescent Point Energy is beating a hasty retreat from its glory days when it was Canada's 12th largest oil and gas producer, with major holdings in Saskatchewan and Utah.
Now faced with wrestling down a net debt that peaked at C$4.4 billion last year, it launched a bold turnaround strategy when Crai....
BLM extends Willow public comment period - 09/15/2019 (Login to read Full story)
The federal Bureau of Land Management said Sept. 6 that it has extended the public comment period for the draft environmental impact statement on the Willow master development plan from 45 to 60 days. The deadline was previously Oct. 15; it is now Oct. 29.
BLM said the extension was provided to all....
Alberta facing deep cuts, big fights
- 09/15/2019 (Login to read Full story)
For a brief few years from 2004, Alberta was an object of both envy and exasperation for the rest of Canada as it proudly and loudly proclaimed its debt-free status, 10 years after setting a goal to wipe out a C$23 billion burden.
The target was largely achieved through an unmatched gusher of oil a....
Drop in US rigs continues, count down six - 09/15/2019 (Login to read Full story)
Baker Hughes reports the number of rigs drilling for oil and natural gas in the U.S. continues to drop, down by six the week ending Sept. 6 to 898, following a drop of 12 the week ending Aug. 30.
In its weekly rig count, the Houston oilfield services company said the active rig count was down 150 f....
Oil tycoon T. Boone Pickens dies at 91 - 09/15/2019 (Login to read Full story)
T. Boone Pickens Jr., a brash and quotable oil tycoon, died Sept. 11. He was 91.
Pickens suffered a series of strokes in 2017 and was hospitalized that July after what he called a “Texas-sized fall.”
An only child who grew up in a small railroad town in Oklahoma, after graduating with a degree in ge....
Next step for ANS Guitar unit is Superior Court, says DNR commissioner Feige - 09/15/2019 (Login to read Full story)
As previously reported in Petroleum News, one of the two Guitar unit defaults issued by the Alaska Department of Natural Resources' Division of Oil and Gas was cured by an Aug. 19 decision of DNR Commissioner Corri Feige.
However, the second default, issued Feb. 7 for failure to meet work commitment.... |
