Jun 1, 2015 Here you can see a map of Alaska's long-term crude oil production. of Alaska's production, we see that production is forecast to continue So, here is the range of expected production. Note that a very fast schedule gets to first oil in FY24. But, the more likely timeline doesn’t have production flowing until FY26. Oh, and It will take a few years of drilling before they reach that 100,000 barrel number you’ve heard about. Alaska North Slope crude prices on the West Coast are expected to average $63.54 per barrel in fiscal 2020, down from the $69.46 average of the past fiscal year, according to the forecast ANCHORAGE, Alaska, Dec 9- Alaska North Slope oil production has slipped below 500,000 barrels per day and will decline further in coming years, squeezing the state's budget until new oil fields
The Alaska North Slope (ANS) oil price is forecast to be $63.54 per barrel for this fiscal year, a drop from $66 that was forecast in spring. • Alaska's oil and gas industry has produced more than 17 billion barrels of oil and six billion cubic feet of natural gas, accounting for an average of 20 percent of the entire nation's domestic production (1980 - 2000). • The oil industry continues to be the largest source of unrestricted revenue to the state.
Oil production on Alaska's North Slope, which has been declining since 1988 when average annual production peaked at 2.0 million barrels per day, is transported to market through the TransAlaska Pipeline System (TAPS). An Alaska oil explorer with a string of wins claims his latest discovery is the largest in the U.S. since the Prudhoe Bay oil field in 1968, and contains about 3 billion barrels of recoverable oil. But Bill Armstrong's large corporate partner, Oil Search, North Slope oil production is expected to average 492,063 barrels per day this year, down from 496,900 barrels per day in 2019. Next fiscal year, about 490,500 barrels per day are expected to flow through the Trans-Alaska Pipeline System, or TAPS. Those estimates are down 7 percent and 4 percent for fiscal 2020 and 2021, respectively. The Alaska North Slope (ANS) oil price is forecast to be $63.54 per barrel for this fiscal year, a drop from $66 that was forecast in spring. • Alaska's oil and gas industry has produced more than 17 billion barrels of oil and six billion cubic feet of natural gas, accounting for an average of 20 percent of the entire nation's domestic production (1980 - 2000). • The oil industry continues to be the largest source of unrestricted revenue to the state.
Oct 11, 2016 With Smith Bay forecast to produce that quantity alone, Alaska clearly figures playing a larger role than anticipated in U.S. oil production. Aug 23, 2018 This, the firm estimates, could lead to a 40% increase in crude production in the next eight years. That would amount to 200 thousand barrels per Mar 29, 2017 Production forecasts for technically recoverable resources (oil, natural gas, and natural gas liquids (NGLs)) are updated for producing fields, Nov 9, 2016 In its Annual Energy Outlook 2016, released in August, EIA's reference-case projects that Alaska production (green line in Figure 1) slipping by an Jun 1, 2015 Here you can see a map of Alaska's long-term crude oil production. of Alaska's production, we see that production is forecast to continue So, here is the range of expected production. Note that a very fast schedule gets to first oil in FY24. But, the more likely timeline doesn’t have production flowing until FY26. Oh, and It will take a few years of drilling before they reach that 100,000 barrel number you’ve heard about. Alaska North Slope crude prices on the West Coast are expected to average $63.54 per barrel in fiscal 2020, down from the $69.46 average of the past fiscal year, according to the forecast
Alaska oil production is expected to increase in 2019 and 2020 thanks to new North Slope oil discoveries being brought online. North Slope production is projected to average 529,800 b/d in 2019 and 533,000 b/d in 2020, up from 505,184 b/d from January through October 2018, according to the most recent state Department of Revenue production and revenue forecast. Alaska is facing a projected $1.6 billion budget deficit next year, but the financial picture for the current fiscal year could get a little worse if North Slope oil production figures don’t increase soon. In December, the Alaska Department of Revenue predicted that the price of oil would be $56 per barrel this year. This new forecast says it will be five dollars higher at $61 and go up even more next year. Even at that price, the state will still have a gap of $2.3 billion between what it spends Alaska North Slope oil production will average 511,500 barrels per day (bbl/d) for the current fiscal year to June 30, the Alaska Department of Revenue said in a semiannual forecast released late March 15, down 3% from an earlier estimate.