Alaska's source for oil and gas news
Alaska's source for oil and gas news
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New Alaska player Epoch Oil & Gas LLC had the highest bid amount in the National Petroleum Reserve-Alaska lease sale bid opening on March 18 at $3,649,920 for tract L-223, and the highest bid amount per acre, $1,112.15, for tract L-205. The company was high bidder on a total of eight tracts. “Epoch is an affiliate of Aspect Energy, a private independent exploration company with a 35-year history of operating responsibly in remote and environmentally complex regions around the world, and now in Alaska,” Alex Cranberg, Aspect’s top execu...
Alaska North Slope crude lifted $1.94 higher March 24 to close at $102.99 per barrel, gaining back a bit of steep price decline from the previous day. West Texas Intermediate vaulted $4.22 to close at $92.35 and Brent vaulted $4.55 to close at $104.49. Traders bid prices higher March 24 following news that the United States would deploy a combat brigade to the Middle East, casting doubt on hopes of a rapid resolution to the conflict over the Strait of Hormuz. On March 23, crude prices plunged after President Trump wrote in a post on Truth...
On March 16, two days before the recent National Petroleum Reserve-Alaska oil and gas sale, the federal District Court in Alaska issued a preliminary injunction temporarily staying the cancellation of a right of way in the Teshekpuk Lake Special Area. Nuiqsut Trilateral Inc. had filed a lawsuit challenging the Department of the Interior’s recent cancellation of the right of way, which allows the nearby Native village of Nuiqsut to, in effect, regulate oil and gas exploration and development activities across a wide area around Teshekpuk Lake i...
Glenfarne Alaska LNG LLC President Adam Prestidge, joined by Alaska Gasline Development Corp. Commercial Manager Matt Kissinger and former U.S. Sen. Mark Begich, a strategic consulting advisor with Brownstein and through a subcontract with Northern Compass Group contracted by the Dunleavy administration on the Alaska LNG Project, took a barrage of questions March 23 at a meeting of the Alaska Legislature’s House Resources Committee. Glenfarne had a slide presentation, but this was the first opportunity committee members had to address G...
North Slope Exploration, a Bill Armstrong company, was the most aggressive bidder in the recent National Petroleum Reserve-Alaska lease sale in terms of the number of bids, submitting bids on 118 tracts, 27% of the 430 bids received in the sale. What was Armstrong’s reaction to the lease sale results? “I feel great!!! We’re a little bit bummed that we didn’t win everything we were after. We bid on 1 million acres and won 600 thousand. We were out bid by Shell/Repsol on some good tracts, but we leased some awesome ideas. I am certain we will be...
During a March 18 presentation to the House Resources Committee Elena Sudduth, general manager of Interior Gas Utility, the utility that supplies natural gas to residents and businesses in the Fairbanks and North Pole regions, talked about the status of IGU’s operations. The utility now obtains all of its gas for its expanding customer base as liquified natural gas from the North Slope. The utility holds the LNG in storage facilities in Fairbanks and North Pole. Gas from the LNG storage tanks is distributed to customers through a network of p...
According to a March 20 update from Unified Command, response efforts are continuing following the Jan. 23 Western North Slope rig move incident, as crews work on Phase 2 of the response, which focuses on removal of the rig from the tundra. Doyon Drilling Inc., or DDI, is still leading response activities under a unified command structure. Further inspection and disassembly of the rig’s substructure is ongoing. As of March 19, approximately 76% of the overall rig has been recovered, removed and transported from the site. Shearing efforts — cutt...
Alaska Gov. Mike Dunleavy is proposing replacing the state’s oil and gas property tax for the Alaska LNG Project with a tax based on the volume of natural gas moving through the pipeline. The measure, House Bill 381 and Senate Bill 280, “modernizes oil and gas property tax structure to be more competitive among global LNG projects and deliver lowest cost to Alaskan customers,” according to the March 20 release from the governor’s office. Adam Prestidge, president of Glenfarne Alaska LNG LLC said in a statement that the company supports the pro...
Baker Hughes’ U.S. rotary drilling rig count was 552 on March 20, down by one from the previous week and down 41 from 593 a year ago. The domestic rig count has ranged from the 530s through the 550s since the beginning of June. For 2025, the count peaked Feb. 28 (and again March 21) at 593, hitting its low point Aug. 29 at 526. For 2024, the count peaked March 1 (and again March 15) at 629, hitting its low point June 28 at 581. In 2023 the count peaked early in the year at 775 on Jan. 13, bottoming out Nov. 10 at 616. A drop of 17 to 731 on M...
