Oil and gas exploration companies offered $7.8 million for the rights to search for oil on 154,610 acres of state land on Alaska’s North Slope and Beaufort Sea, according to results from the 2019 oil and gas lease sale conducted by the Division of Oil & Gas.
Baker Hughes, a GE company has successfully changed its name to Baker Hughes Company.
Fall is well underway, and with it signs that Alaska’s oil and gas industry is busy preparing for the 2019-2020 winter drilling season.
Five times each day, Lynden’s Bering Marine hovercraft team loads up an AP-188 hovercraft with sixty ENI Petroleum employees and safely transports them roundtrip from Prudhoe Bay to Spy Island, a drill site near Oliktok Point.
BP announced that it has agreed to sell its entire business in Alaska to Hilcorp Alaska, based in Anchorage. Under the terms of the agreement, Hilcorp will purchase all of BP’s interests in the state for a total consideration of $5.6 billion.
Both ConocoPhillips and Oil Search are optimistic about the potential of the Nanushuk Formation on the North Slope following the combined drilling of nine delineation wells over the winter in the Greater Willow and Pikka-Horseshoe units.
Oil Search has received the United States Army Corps of Engineers permit and Record of Decision for the Pikka Development Project on the North Slope, in accordance with Section 404 of the US Clean Water Act.
After making a relatively low-key entry into Alaska’s oil scene, Italian company Eni is quietly making a splash in global energy circles, including the North Slope oil patch.
Alaska’s oil potential is global in scale, and international organizations engaged in exploration or development (or both) have been seizing opportunities they see in the Last Frontier.
The Division of Oil and Gas will offer Special Alaska Lease Sale Area (SALSA) blocks in conjunction with the Fall 2019 oil and gas lease sale, Commissioner Corri A. Feige said.