BP Amoco North Slope term price up 20 percent for May - May 28, 1999

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

Vol. 4, No. 5

Week of May 28, 1999

BP Amoco North Slope term price up 20 percent for May

Kristen Nelson

The BP Amoco May term price for Alaska North Slope crude oil is $15.62 a barrel, up $2.55 a barrel, an increase of 19.51 percent from the April price of $13.07 a barrel. The May term price is up $6.25 a barrel, a 66.7 percent increase, from January’s low of $9.37 a barrel. The year-to-date average term price is $11.86, down 14.3 percent from an average price of $13.84 a barrel for the comparable period in 1999.

BP Amoco has the largest volume of production from the North Slope and is the only producer to report a term price.

The Alaska Department of Revenue Division of Oil and Gas Audit said May 10 that the fiscal year-to-date ANS price is currently $12.44 a barrel, 33 cents a barrel above the division’s spring 1999 estimate.

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