Sidebar: 20 years ago: assessing opportunities

Kay Cashman

Petroleum News

St. Mary Land & Exploration is currently taking a serious look at oil and gas investments on Alaska's North Slope.

The company has secured the services of North Slope exploration guru Michael Richter, formerly ARCO Alaska and Phillips Alaska's vice president of exploration and land. Richter and his team were credited with more than a billion barrels worth of discoveries on the North Slope, including the first 1990s NPR-A discoveries.

Doug York, St. Mary's executive vice president and chief operating officer, told Petroleum News June 29 that, "Given where we are in our evaluation of potential investment opportunities in Alaska, it would be inappropriate to comment at this time."

Alaska Division of Oil and Gas Director Mark Myers acknowledged the company was "clearly evaluating Alaska's potential," but was reluctant to say more at this stage.

However, Myers did say that St. Mary was one of the firms the state would like to see invest in Alaska.

St. Mary ranked number 38 in Petroleum News' list of the top capital and exploration spenders in the United States in 2002.

--KAY CASHMAN