Small British oil explorer drills Alaska appraisal well in prospect adjacent to haul road
Pantheon Resources leaders believe Talitha-A can be developed quickly even under tenuous market conditions.
Pantheon Resources leaders believe Talitha-A can be developed quickly even under tenuous market conditions.
The Alaska Industrial Development and Export Authority took control of the Mustang project in December after years of fits and starts.
The decision came one day after the Trump administration issued oil and gas leases on the coastal plain of Alaska’s Arctic National Wildlife Refuge.
The issuance of nine of the 11 leases sold could complicate efforts by President-elect Joe Biden to halt or delay drilling there. The Alaska Industrial Development and Export Authority said it will not pursue leases for two tracts.
One of the tug’s crew members was injured in the Jan. 11 collision. The Coast Guard has since permitted the repaired tanker and tugboat to return to service.
Even after the first-ever oil lease sale, Democratic control of the legislative and executive branches in Washington is forcing Alaskans to reassess the prospects of drilling in the Arctic National Wildlife Refuge.
An activist said the small companies “should be put on notice” that drilling opponents won’t stop fighting.
The Energy Act of 2020 culminated almost six years of work, procedural hang-ups and near-victories for Alaska Sen. Lisa Murkowski.
The vast majority of $14.4 million in winning bids were submitted by a development corporation owned by the state of Alaska.
U.S. District Court Judge Sharon Gleason denied the conservation and tribal groups’ request, but the broader case against the federal government is not decided.
It’s uncertain whether there will be much bidding announced on Wednesday, but the stakes are high.
U.S. District Court Judge Sharon Gleason said she would try to issue a decision by “close of business” on Tuesday, the eve of the sale.
The National Petroleum Reserve-Alaska, the largest area of federally managed land in the U.S., contains large new oil discoveries, including ConocoPhillips’ Willow prospect.
Oral arguments in federal court could launch an eventful week for efforts to drill in Alaska’s Arctic National Wildlife refuge.
Oil prices have hovered around $50 per barrel for Alaska North Slope crude in mid-December on hopes that the first round of COVID-19 vaccines will translate into greater demand before too long.
The federal government will announce the lease winners on Jan. 6. Officials with the agency said they are trying to support Alaska’s economy, but a long list of speakers criticized the move.
The motion is part of a larger effort to stop the Willow project.
The directors of the Alaska Industrial Development and Export Authority may approve $20 million in a special meeting.
The Bureau of Land Management said it was removing 10 tracts from consideration partially in response to input from the public, including comments about the core calving grounds of the Porcupine Caribou Herd.
Officials say the situation is expected to get worse in the next fiscal year before it starts to improve.