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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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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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Shell backs out of Alaska for foreseeable future with financial hit

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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 The Burger J well is approximately 150 miles (241 km) from Barrow, Alaska, in about 150 feet (46 meters) of water.

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EIA: State tax rates for retail gasoline and diesel increased in 13 states in 2023

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Illinois surpassed California as the state with the highest taxes ($0.674/gal), while Connecticut temporarily surpassed Alaska as the state with the lowest gasoline taxes ($0.05/gal), Other states, including Florida, Georgia, and Maryland, will also end their suspensions of at least some part of their taxes on motor fuels during 2023.

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Department of Interior awards initial $560M to 24 states to plug, cap and reclaim orphaned oil and gas wells

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The Department of the Interior awarded an initial $560 million from the Bipartisan Infrastructure Law to 24 states to begin work to plug, cap and reclaim orphaned oil and gas wells. The $560 million is part of an overall $1.15 States will receive additional formula funding dollars in the coming months. California. 1,000-1,200.

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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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