Quote of the day from our Aussie O&G analyst friend:

…from an anonymous letter circulating in Saudi Arabia, said to be written by an unhappy faction of princes:

“We will not be able to stop the draining of money, the political adolescence, and the military risks unless we change the methods of decision making, even if that implied changing the king himself.”  (Our Note: between this, Amerca’s poor leadership and Russia’s Mid-East adventure, oil and gas prices may not be in a week what we believe they will be today.  -dh)

Today: Doyon, Limited, a major Alaska landowner, describes its aggressive exploration program for oil and gas in an accessible area west of Fairbanks, in Interior Alaska.  Read more (thanks to Doyon’s James Mery)….


A president leading his nation toward disaster

Commentary by

Dave Harbour

When one considers the Administration’s passive-aggressive opposition to virtually all fossil energy projects, he reveals himself to be an enemy of American public interest.

  • One recalls his effective opposition to the Keystone XL Pipeline, supported by Secretary Clinton’s State Department–and most Americans.
  • One remembers his locking ANWR, via USFWS, into wilderness management with his ‘pen’, in an end-run around Congress.
  • One knows of his action via BLM to, amazingly, lock up half of the country’s National Petroleum Reserve-Alaska.
  • One can easily document the delays his departmental henchmen added, year after year, to the obstacles faced by Shell in its good faith effort to properly explore the Arctic on leased acres purchased from the federal bureaucracy.

We have described these and many other attacks on the U.S. economy by this administration.

The pattern is undeniable.

Were the Congress not so lacking in self-confidence and determination to defend the Constitution against all enemies, both foreign and domestic, they should have authored impeachment charges long ago.

So now, just consider that one important result of denying the export of plentiful American oil, is to minimize international demand for U.S. oil shale and other energy projects–that could improve national security, dramatically increase employment of American citizens, neutralize much of the balance of payments deficit, reduce the national debt and improve U.S. leadership in the world power vacuum now being filled by a Russian leader– a man with fire in his belly and traditional leadership skills, no matter how badly perverted they may be.

Denying American energy exports is a frontal attack on the free market, on the wellbeing of American companies and citizens.

It is yet another act that comforts America’s enemies and denies benefits to allies and other friends of the United States.

It is another sign of a leader coaxing his flock to follow him to a cliff overlooking a very deep canyon, from which there is no returning.

Today: U.S. Sen. Lisa Murkowski, (NGP Photo), in response to White House opposition to the Offshore Production and Energizing National Security Act (S. 2011).

Lisa Murkowski, US oil export ban, Photo by Dave Harbour“It is unfortunate that the White House fails to understand the national security and geopolitical benefits of lifting the ban on oil exports. Ask Poland, which is 96 percent reliant on Russia for its oil, or Japan, which must continue to rely on Iran, if U.S. oil ‘is not needed at this time.’ The veto threat reveals a fundamental misalignment within the administration. These policy contradictions merit further attention. Regardless of what the president’s advisers may tell him, congressional legislation has become necessary: even though he has the authority to act, he has not – even though the time is right, the need is clear, and the global dividends promise to be significant.”

In July, the U.S. Senate Energy and Natural Resources Committee, chaired by Murkowski, reported favorably her bipartisan bill, the Offshore Production and Energizing National Security Act (S. 2011). If enacted, the bill would fully repeal the outdated restrictions on exporting American oil, while preserving the emergency authorities of the president to act during emergencies.

DOYON TO CONDUCT MORE SEISMIC TESTING IN NENANA BASIN
Fairbanks, Alaska – Today, Doyon, Limited announced it will further accelerate its oil and gas exploration program in the Nenana basin with 2-D seismic testing in a large area north of more recent operations.
The program will begin in January 2016. This program is a follow up on a 3-D seismic program completed in late 2014 covering a portion of the central Nenana basin, and the recent announcement of new exploration Crews will begin mobilizing in early January 2016 for this 160-mile program which will continue into April 2016.
This effort is part of Doyon’s long-term exploration program in this 1,200-square mile frontier basin in Interior Alaska located west of Fairbanks and parallel to the Parks Highway, rail, electrical transmission lines and the planned natural gas pipeline route from the North Slope to Cook Inlet.
Doyon is t e sole lessee of approximately 400,000 acres of State of Alaska oil and gas leases in the Nenana basin and owns the subsurface, including oil and gas rights, to an additional 42,000 acres.
On August 13, 2015, Doyon announced it will drill a third well, Toghotthele #1, in the basin, beginning summer 2016, in an area where the company believes that chances of commercial success for natural gas are now as high as 1 in 2, based on results of earlier  efforts.
The hydrocarbon targets in the basin continue to be both oil and natural gas.
Headquartered in Fairbanks, Doyon, Limited has more than 19,200 shareholders and was established under the 1971 Alaska Native Claims Settlement Act. Doyon, one of the top 10 Alaskan-owned companies with subsidiaries in oilfield services, government contracting, and tourism, is also the largest private landowner in Alaska and one of the largest in North America.
Its mission is to continually enhance its position as a financially strong Native corporation in order to promote the economic and social well-being of its shareholders and future shareholders, to strengthen its Native way of life, and to protect and enhance its land and resources.
For more information:
James Mery, Sr. VP Lands & Natural Resources, Doyon, Limited, 907-459-2039, meryj@doyon.com