The Explorers 2020: What drives exploratory drilling?

Examination of North Slope drilling history shows complex interrelationship with oil price, major discoveries and state tax changes

Alan Bailey

for Petroleum News

The recent havoc in the oil market as a consequence of the COVID-19 pandemic, with the curtailed Alaska exploration drilling program last winter, has prompted interesting questions regarding the long-term impact of the oil price and oil market on exploration drilling on the North Slope. An analysis....

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Major discoveries and oil prices

1970s market disruption

An oil price peak

Production tax changes