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EIA: proved reserves of US natural gas established a new record; oil reserves increased by 16% at the end of 2021

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In 2021, proved reserves of natural gas set a new record in the United States, and proved reserves of crude oil and lease condensate increased, but not quite to pre-pandemic levels, according to the US Energy Information Administration (EIA). Production of existing reserves. Thorough appraisals of existing fields. MMBtu in 2021.

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BP to sell Alaska business to Hilcorp for $5.6B

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BP has agreed to sell its entire business in Alaska to Hilcorp Alaska, based in Anchorage, Alaska. The sale will include BP’s entire upstream and midstream business in the state, including BP Exploration (Alaska) Inc., that owns all of BP’s upstream oil and gas interests in Alaska, and BP Pipelines (Alaska) Inc.’s

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Way cleared for major Alaska North Slope natural gas pipeline project

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Proposed route for the Alaska Pipeline project. Alaska Governor Sean Parnell announced that two major milestones have been met in the state’s effort to bring Alaska’s North Slope natural gas to Alaskans and markets beyond. The North Slope holds more than 35 trillion cubic feet of discovered natural gas.

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IHS Markit: Alaska North Slope a super basin ready for resurgence; production to grow 40% in 8 years

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Based on recent discoveries, the IHS Markit Plays and Basins: Alaska North Slope (ANS) Basin; Resurgence in an Arrested, Late-emerging Super Basin analysis estimates that the ANS Basin offers 38 billion barrels of oil equivalent (BOE) in remaining recoverable resources (50 trillion cubic feet (TCF) of gas, and 28 billion barrels of oil).

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USGS releases first shale-oil and shale-gas resource potential assessment for the Alaska North Slope

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The US Geological Survey has released its first estimate of the potential of undiscovered, technically recoverable onshore shale oil and gas resources in Alaska’s North Slope. Northern Alaska province showing boundaries of assessment units (AU). However, these shales also likely retain oil and gas that did not migrate.

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BP to acquire unconventional US onshore assets from BHP for $10.5B; transforming US onshore oil & gas business

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BP has agreed to acquire a portfolio of world-class unconventional oil and gas assets from BHP. The acquisition will bring BP extensive oil and gas production and resources in the liquids-rich regions of the Permian and Eagle Ford basins in Texas and in the Haynesville gas basin in Texas and Louisiana.

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USGS estimates nearly 39 billion barrels of oil undiscovered and technically recoverable in two Arctic petroleum provinces; 275 trillion feet of gas

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Map of Arctic Alaska Province (outlined in black) showing boundaries of the platform and fold-and-thrust belt assessment units in red. Arctic Alaska Province. The Arctic Alaska Petroleum Province encompasses all lands and adjacent continental shelf areas (i.e., Source: USGS. Click to enlarge.

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