US—revival in the north
Drilling in Alaska is pricey compared with tight oil in the Lower 48. But the potential remains huge
At one point in the 1970s Alaska was home to some of the largest oilfields ever found in the world. The rise of lower cost tight oil in the Lower 48 may have eclipsed the North Slope—but, at the right price, much riches lie in wait. Still, the recent history has been about decline. Alaskan exploration in recent decades has dropped off and production of around 490,000 barrels a day is now barely a quarter of that heyday high. The major players—ConocoPhillips, BP and ExxonMobil—seemed content to milk their white elephants and skim the cash. That could change with some compelling new discoveries that have altered the landscape. In early 2016, Denver-based Armstrong Energy made a major strike at
Also in this section
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them