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A new forecast from the state paints a picture of a basin in decline, while utilities along the Railbelt continue to depend on the natural gas produced there.
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The Alaska Division of Oil and Gas presents an oil production forecast to the Alaska Legislature each year to help the legislature determine how to shape the budget for the next fiscal year.
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Industry watchers say the lukewarm response to the hotly contested sale points to a long-term trend of low interest in the inlet's federal waters.
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The state sale will close just days before another, in the federal waters of the inlet.
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The company is already producing gas from the SeaView 8 unit, near Anchor Point, and is in the process of connecting SeaView 9. It’s also doing exploratory drilling work just north of Ninilchik and last year applied to drill two gas exploration wells in Whiskey Gulch.
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Alaska oil and gas company Furie Operating Alaska acquired two leases in Cook Inlet during the most recent state sale last week, totaling just over 5,000 acres. It was the only bidder in that auction.
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Oil and gas leasing isn’t allowed in Kachemak Bay. The state blocked development there after an oil rig got stuck and leaked oil into the bay in 1976.But…
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Oil and gas producer Hilcorp is continuing its Alaska expansion with three new exploration leases in the Cook Inlet basin.Hilcorp, which operates most of…
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A Cook Inlet oil and gas producer has asked the state for permission to suspend operations in two area until at least April 2021.Glacier Oil and Gas,…