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Below are articles from this week's edition of Petroleum News. Subscribers must log in above to view the complete articles. Subscribe now for full access.
  • New approach - 07/12/2020 (Full story) Alaska-owned HEX LLC is taking a fresh look at the reserves in the Kitchen Lights unit, which as of July 1 it owns and operates through its acquisition of Chapter 11 bankruptcy debtor Furie Operating Alaska LLC and related debtor companies. “We are going to take a new approach to our natural gas res....

  • Hilcorp looks ahead - 07/12/2020 (Full story) Hilcorp took over as operator at Prudhoe Bay July 1, upon completing acquisition of BP Exploration (Alaska)'s upstream assets. The acquisition included BP's interests at Prudhoe Bay, Milne Point and Point Thomson, as well as the operatorship at Prudhoe. The midstream portion of the transaction is ex....

  • Explorers still needed - 07/12/2020 (Login to read Full story) Slashed oil and gas exploration budgets due to the COVID-19 oil market crash of 2020 have led to a sharp drop in discoveries. Global discoveries of conventional resource volumes reached just 4.9 billion barrels of oil equivalent in the first half of 2020, the weakest-performing first half of the 21s....

  • Borealis working 2021-22 plans, starting planning, permitting work - 07/12/2020 (Full story) Borealis Alaska Oil Inc. is continuing to progress plans for exploratory drilling in its Castle North prospect in the northeastern National Petroleum Reserve-Alaska, Richard Garrard, Borealis chief technical officer, has told Petroleum News. The intention is to drill in the winter of 2021-22, he sai....

  • Paying pandemic price; Alberta to spend on infrastructure, cut taxes - 07/12/2020 (Login to read Full story) The answer from the 15-month-old Alberta government of Premier Jason Kenney to unmistakable signs of gloom washing over its economy has been to gamble billions of dollars on an economic recovery plan and dent the province's once-treasured credit rating. Topping the list is C$10 billion (C$3 billion....

  • Oil Search layoffs not in Alaska; Pikka advancing - 07/12/2020 (Login to read Full story) The latest round of layoffs announced by Keiran Wulff, Oil Search's managing director, on July 1 did not involve the company's Alaska workers. In charge of developing the big North Slope Pikka unit, Oil Search laid off Alaska workers in March and April. “While seasonal contractors associated with o....

  • Newfield revisits Alaska - 07/12/2020 (Login to read Full story) Newfield Exploration people left Alaska recently for the second time this year after visiting with industry officials regarding Alaska's oil and gas geology and operating environment. Petroleum News reported a very hush hush visit by a Newfield team in early fall 2018 which included scientists maki....

  • EIA Short-Term: Crude surplus dropping - 07/12/2020 (Login to read Full story) In its current Short-Term Energy Outlook, released July 7, the U.S. Energy Information Administration noted a number of forecast changes from its June outlook and continued to emphasize, as it did in June, that the outlook “remains subject to heightened levels of uncertainty” because of COVID-19, wi....

  • Oooguruk partial gas processing studied - 07/12/2020 (Login to read Full story) Eni, which took over as 100% working interest owner and operator at Oooguruk effective Aug. 1, 2019, has submitted the 14th plan of development for the unit to the Alaska Department of Natural Resources, Division of Oil and Gas. The POD covers Oct. 1, 2020, through Sept. 30, 2021. Eni, which operat....

  • Not over 'til it's over - 07/12/2020 (Login to read Full story) First Nations and environmentalists who have spent untold millions of dollars in legal fights to halt plans for expanding Canada's Trans Mountain pipeline system appear to have exhausted their legal options now that the Supreme Court of Canada has dismissed an appeal from three aboriginal communitie....

  • AOGCC approves Kuparuk oil pool expansion - 07/12/2020 (Login to read Full story) The Alaska Oil and Gas Conservation Commission has approved a request from ConocoPhillips Alaska for an amended order expanding the areal extent of the Kuparuk River oil pool. The request, filed in March, was for inclusion of section 22 in township 13 north, range 3 east, Umiat Meridian, in the Kup....

  • BP submits POD for Greater Point McIntyre - 07/12/2020 (Login to read Full story) On June 26 BP Exploration (Alaska) filed its last North Slope plan of development as it prepared to close on the sale of its Alaska assets to Hilcorp. The POD, submitted to the Alaska Division of Oil and Gas, is for the Greater Point McIntyre area, covering the Lisburne, Niakuk, Point McIntyre, Rav....

  • US rig count drop slows, only down by two - 07/12/2020 (Login to read Full story) The Baker Hughes' weekly U.S. oil and gas drilling rig count, released July 2 prior to the Fourth of July holiday, shows a continuing slowing in the drop, down by only two rigs from the previous week to 263 from 265, although down 700 from a year ago. The previous week, ending June 26, the count was....

  • May ANS production down 13% from April - 07/12/2020 (Login to read Full story) Alaska North Slope production averaged 433,840 barrels per day in May, down 13%, 64,582 bpd, from an April average of 498,422 bpd, reflecting both a proration by Alyeska Pipeline Service Co. which ended May 22, and the beginning of a ramp down of production of 100,000 bpd scheduled for June by Conoc....

  • Sidebar: Cook Inlet gas production down 6.2% - 07/12/2020 (Login to read Full story) Natural gas production in Cook Inlet averaged 198,445 thousand cubic feet per day, mcf, in May, down 7,098 mcf, 6.2%, from an April average of 204,584 mcf per day and down 10.4% from a May 2019 average of 221,353 mcf per day. Seven fields account for 81% of gas production in the inlet, led by Hilco....

  • RCA accepts confidentiality of filings - 07/12/2020 (Login to read Full story) In an order issued July 2, the Regulatory Commission of Alaska said documents submitted May 4 by BP Pipelines and Harvest Alaska as confidential meet statutory and regulatory requirements to be treated as confidential and the commission recognizes them as such. The filings are part of dockets in th....

  • Developers cancel $8B Atlantic Coast line - 07/12/2020 (Login to read Full story) The developers of the long-delayed, $8 billion Atlantic Coast Pipeline announced the cancellation of the multi-state natural gas project July 5, citing uncertainties about costs, permitting and litigation. Despite a victory in June at the United States Supreme Court over a critical permit, Dominion....

  • Michigan judge allows restart of Line 5 - 07/12/2020 (Login to read Full story) A Michigan judge July 1 allowed Enbridge to resume pumping oil through a Midwestern pipeline, nearly a week after shutting it down because of damage to a structure that anchors a section of the line running through a Great Lakes channel. Enbridge's Line 5 moves crude oil ....

  • Oil patch bits: Lynden Transport on the build with Sprung Industries - 07/12/2020 (Login to read Full story) As reported by Lynden News July 1, Lynden Transport is delivering materials for a project at Fort Wainwright military base near Fairbanks, Alaska, this spring and summer. Drivers are hauling 58 loads of large tent frames and insulation from Salt Lake City and Calgary for the construction of seven bu....

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  • Court confirms Furie's plan for Ch. 11 sale to Hex 06/12/2020
  • Restructured, renamed Hex nears closing date on Furie assets 06/04/2020
  • RCA approves Chugach Electric purchase of ML&P 05/29/2020
  • Hilcorp gets approval for Whiskey Gulch strat test plan 05/22/2020
  • Alaska Gasline Development receives FERC approval 05/21/2020

    The eAlert News Bulletin Service is our premier information service. Often delivered multiple times per week by email, it provides the latest breaking news for the oil and gas industry.
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