State updates ANS price, production projections - March 28, 1999

Providing coverage of Alaska and northern Canada's oil and gas industryMarch 1999

Vol. 4, No. 3

Week of March 28, 1999

State updates ANS price, production projections

The Alaska Department of Revenue Oil and Gas Audit Division said March 1 that it expects Alaska North Slope crude on the West Coast to average $11.58 a barrel for fiscal year 1999, which ends in June. That was the estimate the division gave in its Jan. 15 revision of the November forecast of $13.03 a barrel.

Fiscal year-to-date price on March 1 was $11.78 a barrel, up 20 cents from the Jan. 15 forecast revision, the division said.

The division’s fall 1998 ANS production estimate was 1.177 million barrels a day. The production estimate was not revised in January.

As of March 1, the division said that fiscal-year-to-date production averaged 1.176 million barrels a day, 1,000 barrels a day less than the fall projection.

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