article thumbnail

Repsol, Armstrong Energy make largest US onshore oil discovery in 30 years; 1.2B barrels in Alaska

Green Car Congress

billion barrels of recoverable light oil in the Nanushuk play in Alaska’s North Slope. The contingent resources identified with the existing data in Repsol and Armstrong Energy’s blocks in the Nanushuk play in Alaska could amount to approximately 1.2 of net oil pay in several reservoir zones in the Nanushuk section.

Alaska 170
article thumbnail

Shell backs out of Alaska for foreseeable future with financial hit

Green Car Congress

Shell announced on Monday that it will cease further exploration activity in offshore Alaska for the foreseeable future. The balance sheet carrying value of Shell’s Alaska position is approximately $3.0 Shell will provide an update with third quarter 2015 results. The company expects to take a financial hit as a result.

Alaska 150
article thumbnail

Arctic oil on life support

Green Car Congress

Oil companies have eyed the Arctic for years. With an estimated 90 billion barrels of oil lying north of the Arctic Circle, the circumpolar north is arguably the last corner of the globe that is still almost entirely unexplored. However, the first month of 2015 has darkened Arctic dreams even further.

Oil 150
article thumbnail

ICCT updates US airline fuel efficiency rankings; Alaska stays on top, American on bottom

Green Car Congress

Key findings of the updated study include: Alaska, Spirit, Frontier, and Southwest Airlines remained the top four most fuel-efficient airlines on US domestic operations in 2014. On average, Alaska has operated the most efficient US domestic flights for five years running since 2010.

Alaska 150
article thumbnail

Argonne analysis shows greenhouse gas emissions similar for shale, conventional oil

Green Car Congress

Shale oil production generates greenhouse gas emissions at levels similar to conventional crude oil production, according to a pair of new studies released by the US Department of Energy’s Argonne National Laboratory. These are shale formations with low permeability and must be hydraulically fractured to produce oil and gas.

Oil 150
article thumbnail

Obama sets goal of reducing US oil imports by 1/3 by 2025; domestic and Western Hemisphere production, natural gas, biofuels, electric vehicles, fleet purchases

Green Car Congress

Meeting the goal of cutting US oil dependence depends largely on two things, Obama said: finding and producing more oil at home, and reducing dependence on oil with cleaner alternative fuels and greater efficiency. The Administration is pushing the oil industry to produce on leases already held.

Obama 268
article thumbnail

Back to the Arctic: BOEM conditionally approves Shell’s revised Chukchi Sea exploration plan

Green Car Congress

In April the Department announced proposed regulations to better protect human lives and the environment from oil spills. The proposed measures include more stringent design requirements and operational procedures for critical well control equipment used in OCS oil and gas operations.

Alaska 150