7-29-16 Friday Review - Good News From COP and BP

7-29-16 Friday Review – Good News From COP and BP

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Alaska State Senator Mia Costello. NGP Stock Photo by Dave Harbour

Steve Quinn of Petroleum News Conducts a Probing Interview of Senator Mia Costello After Alaska’s Governor Denies the Legislature Seats On the Board of the Legislatively Created Alaska Gasline Development Corporation (AGDC). We Hope The Legislature Takes Off Its Gloves Sooner Than Later And Puts A Halt To His Socialistic Hegemony. Governor Walker is Destroying Alaska’s Investment Climate To the Detriment of All Citizens. -dh (More)

Three important pieces from the Alaska Journal of Commerce this past week!

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Alaska Governor Bill Walker: NGP Stock Photo by Dave Harbour

AJOC EDITORIAL: Walker completes transformation of AGDC to AGPA. Gov. Bill Walker likes to talk about his background in construction and how much he loves building things…

Moody’s issues second downgrade to Alaska credit rating
Moody’s Investors Service downgraded the State of Alaska’s general obligation bond rating another notch July 25.

Exxon exec corrects Meyer on AK LNG
ExxonMobil Development Co. Vice President Jim Flood sent a letter to Alaska Gasline Development Corp. President Keith Meyer July 22 to correct “inaccuracies” in a July 13 letter…

ConocoPhillips is experiencing worldwide challenges to its financial performance due to the same low price scenario being experienced by the entire industry. But Alaskans should acknowledge if not be grateful that Alaska is one part of COP’s portfolio minimally affected by worldwide expense cuts. -dh

PETROLEUM NEWS: more oil in Torok 07/31/2016 State officials have approved a new oil pool at the Kuparuk River unit. The Alaska Oil and Gas Conservation Commission approved a request from ConocoPhillips Alaska Inc. to establish the Kuparuk River-Torok Oil Pool at the unit. The ruling allows ConocoPhillips to proceed with an oil development pro.

Petroleum News: ConocoPhillips Alaska cuts likely small 07/31/2016
ConocoPhillips is looking at a 6 percent global workforce cut, but doesn’t expect a large reduction in Alaska. An email statement provided to Petroleum News July 25 by ConocoPhillips Alaska spokeswoman Natalie Lowman says “the extended downturn in oil price” means the company is “operating in a….

BP Hopeful for Alaska’s Potential: Subscribe to Petroleum News Alaska! -dh

BP sees AK investment flexibility

Click here to go directly to this story within the full PDF version of this issue, with any maps, photos or other artwork that appears in some of the articles. During a second quarter 2016 results earnings call on July 26, BP executives commented that the company sees Alaska as one of a number of regions where capital investment can be flexible in response to the changing oil price situation.

“In the Lower 48, Iraq, and Alaska, where we have vast resources, we have reduced our spend while retaining the flexibility to scale up activity should prices strengthen,” Group Chief Executive Bob Dudley told financial analysts.

Drilling seasons ‘pretty much nonexistent’. Calgary Herald

Calibrations designed to help set royalty rates on new Alberta oil and gas wells will take an extra three weeks to … Dave Olecko / Calgary Herald.

From our Alaska Miners Assocation Friends:

BLM RAC tours Fortymile – this week, the BLM Resource Advisory Council, a body formed to provide advice on the management of public lands and resources, had a meeting focused on placer mining in Tok followed by a field trip to the Fortymile area. To learn more about Alaska’s RAC, visit http://www.blm.gov/ak/st/en/res/rac.3.html

BLM Job Openings in Alaska: The announcement closes August 5th. https://www.usajobs.gov/GetJob/ViewDetails/444278500

A positive, national coal article: finally

About the Author: wpnorthern

Dave Harbour, publisher of Northern Gas Pipelines, is a former Chairman of the Regulatory Commission of Alaska, a Commissioner Emeritus of NARUC, NARUC's Official Representative to IOGCC and Vice Chairman of NARUC's Gas Committee. He served as Gas Committee Chairman of the Western Conference of Public Service Commissioners. He also served as commissioner of the Anchorage Bicentennial Commission and the Anchorage Heritage Land Bank Commission. He earned a Bachelor of Arts Degree: English, at Colorado State University, a Master of Science Degree: Communications-Journalism at Murray State University and graduated from Utility Regulatory School for Commissioners at Michigan State University. He served as a Vice President for Communications and Public Affairs at Alaska Pacific University, taught bank marketing classes at the University of Alaska and was an English teacher at Los Alamos High School. Harbour served in ranks of Private - Captain during a 4-year assignment with the Army in Korea, Idaho, Georgia and Fort Meade and received the Meritorious Service Medal among other commendations. Harbour is also a past Chairman of the Alaska Council on Economic Education, the Alaska Oil & Gas Association Government Affairs Committee, the Anchorage Chamber of Commerce, the Export Council of Alaska and the Department of Commerce's District Export Council. He is a past President of the Alaska Press Club, American Bald Eagle Foundation, Consumer Energy Alliance-Alaska and Common Sense for Alaska. Harbour was instrumental in founding the American Bald Eagle Research Institute (UAS), the Alaska Support Industry Alliance, the Downtown Anchorage Business Partnership, and Arctic Power. He also served as CEO of several small Alaska organizations, including the Anchorage Parking Authority and Action Security, Inc. Harbour is also Chairman Emeritus of the Alaska Oil & Gas Congress. Harbour's wife, Nancy, is a professional, performing arts administrator and his three boys, Todd, Benjamin and William work in the fields of environmental management, energy marketing and medicine.