ALASKA’S OIL & GAS INDUSTRY

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Presentation transcript:

ALASKA’S OIL & GAS INDUSTRY Cook Inlet Overview & Activity Update Commonwealth North Presented by: Mark Wiggin, Deputy Commissioner Alaska Department of Natural Resources June 8, 2017 1

OVERVIEW Cook Inlet Activity Overview: Division of Oil and Gas Resources and Reserves Current Activity & New Developments

Division of Oil and Gas Cross disciplinary team: Scientists Engineers Land managers Economists Manages 24.7 million acres of world class resources: Beaufort Sea North Slope North Slope Foothills Cook Inlet Alaska Peninsula Over 4 million acres under lease

Oil and Gas Functional Organization Chart

Southern Lease Sales Spring 2016: No bids were received for the 2016 Cook inlet and Alaska Peninsula areawide lease sale.

COOK INLET RESOURCE & RESERVES OVERVIEW Undiscovered, Technically Recoverable Oil & Gas (USGS, 2011): mean conventional oil 599 MMBO mean conventional gas 13.7 TCF mean unconventional gas 5.3 TCF Natural Gas Reserves (ADNR 2015) 1.18 TCF (Proved + Probable) 1.2 TCF additional mean resource assessed in OCS waters (BOEM, 2011)

Current Activity & New Developments COOK INLET Current Activity & New Developments Conoco Phillips Sale of Gas Plant Transferred North Cook Inlet Unit to Hilcorp Furie Operating Alaska Kitchen Lights Unit: BlueCrest Energy, Inc. Cosmo Unit: Restarted production March 2016; plans to drill up to 3 wells Cook Inlet Energy Continued production from North Fork, Redoubt, and West McArthur River Units

Current Activity & New Developments COOK INLET Current Activity & New Developments Hilcorp Alaska, LLC: 13 State managed units in Cook Inlet Cannery Loop Unit: Completed 1 workover in 2016, plan 1 workover and one sidetrack in 2017 Deep Creek Unit: Stratigraphic test wells planned for 2017 Granite Point Unit: Plan 3 side tracks Ninilchik Unit: Drilled two new gas wells in 2016 and plan 1 additional in 2017 Trading Bay Unit: 11 workover jobs and 4 sidetracks in 2016, 4 more sidetracks and 3 new wells in 2017

Recently Issued Seismic permits COOK INLET Recently Issued Seismic permits Global South Kenai 2D Requested 50 linear miles SAE Shadura 3D and 2D Requested 16 square miles Requested 42 linear miles SAE Lower Cook Inlet 3D Marine (2015) Requested 547.8 square miles SAE Upper Cook Inlet 3D (2015) Requested 821 square miles

WHO’S WORKING COOK INLET? Mid-Sized Independents: Hilcorp Alaska, LLC Small Independents & LLCs: AIX Energy LLC Corsair Oil & Gas Company LLC BlueCrest Energy Inc. Furie Operating Alaska LLC CIRI Production Company Municipality of Anchorage dba Municipal Light and Power Chugach Electric Association Cook Inlet Energy LLC Taylor Minerals LLC Cornucopia Oil & Gas Company LLC

Thank You Questions?