BP Amoco's term price for Alaska North Slope crude for April is $28.06 a barrel, up 37 cents (1.34 percent) from March's price of $27.69. In recent months changes in the term price have ranged from 4 percent to 15 percent.
This is the smallest month-to-month change in the term price since a 2 cent per barrel rise last July.
The term price hit $9.37 a barrel in January 1999 and has risen in 13 of the 15 months since. The current term price is the highest term price (in non-inflation-adjusted dollars) since December of 1990, when it stood at $28.74 a barrel.
The year-to-date average term price is $26.51. The comparable average in 1999 was $10.93.
BP is the largest producer of ANS crude and the only one to post term prices.
ion 3 township 10 north range 1 east, Umiat Meridian, was one of five successful wells and one successful sidetrack announced by former operator Phillips Alaska (now ConocoPhillips Alaska) and partner Anadarko in May 2001. The companies said the wells all targeted the Alpine producing horizon, and all encountered oil or gas and condensate.
Moose’s Tooth is west of the NPR-A Spark prospect, which along with Lookout is a proposed Alpine satellite.
