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Petroleum News Ebook page Shell responds to stakeholders’ 13 concerns, postpones critical drilling Vol. 13, No. 7 • www.PetroleumNews.com A weekly oil & gas newspaper based in Anchorage, Alaska Week of February 17, 2008 • $1.50 ● NATURAL GAS Chevron to explore from Anna TransCanada responds Palmer tells legislators ANNGTC only Alaska, and not using any old permits COURTESY CHEVRON COURTESY By KRISTEN NELSON Palmer said he realizes there is a concern Petroleum News about how motivated TransCanada would laska legislators have be to manage pipeline construction costs, FORREST CRANE had a lot of questions and said the company’s AGIA proposal A about the TransCanada includes a penalty on its rate of return if application under the Alaska Gasline Inducement there are cost overruns. Act or AGIA; Feb. 6-7 they got a chance to ask those some $9 billion, mainly interest — if that project Tony Palmer, were ever built. The amount is shown in Federal questions of Tony Palmer, TransCanada TransCanada’s vice president Energy Regulatory Commission filings for for Alaska business development, who talked to ANNGTC (see “TransCanada: no liability” in Feb. Senate Resources and the House majority caucus. 3 issue of Petroleum News at www.petroleum- A big ticket item was the money that could be news.com/pnads/374395925.shtml). Following development oil drilling at Granite Point, Chevron is look- TransCanada has said that even if any of this ing at drilling untapped shallow gas horizons in aging Cook Inlet owed to withdrawn partners in the Alaska field. See story on page 9. Northwest Natural Gas Transportation Co. — see TRANSCANADA page 17 ● ISER: New Alaska oil tax slams NATURAL GAS construction spending growth The oil industry will spend nearly $3 billion on construc- Exxon to sell ANS gas tion projects in Alaska this year, according to a new forecast compiled by economists with the University of Alaska’s Deal with Fairbanks utility viewed as precedent for larger commercialization effort Institute of Social and Economic Research. By ERIC LIDJI be built and owned by a Fairbanks The $2.89 billion to be spent on oil and gas projects repre- Petroleum News Natural Gas affiliate called Polar LNG, sents 41 percent of all construction dollars to be spent in LLC. Alaska in 2008, and a 5 percent increase over 2007 spending xxonMobil Corp. will start selling Fairbanks Natural Gas will eventual- figures for the industry. North Slope natural gas to ly truck the liquefied natural gas nearly The forecast attributes the slight rise in spending this year E Fairbanks Natural Gas LLC some- 500 miles along the Dalton Highway to to both higher construction costs and an increase in explo- time in 2009, the companies its distribution grid in Fairbanks. ration and development activities by both major and inde- announced on Feb. 12. pendent companies. Under the 10-year contract, the natu- Lawmakers, governor However, the forecast also notes construction projects for ral gas utility for Fairbanks will buy up DAN BRITTON see precedent; Exxon doesn’t see FORECAST page 18 to 10 billion cubic feet of natural gas a The deal between ExxonMobil and year from ExxonMobil Gas & Power Marketing Fairbanks Natural Gas comes as state lawmakers Pacific Energy hopes to drill Co. The contract can be renewed annually after and the governor’s gas line team discuss options the initial 10-year period. for bringing North Slope natural gas to market. down to oil in first well at Corsair The 2009 startup date allows Fairbanks Many state lawmakers and Gov. Sarah Palin Natural Gas to complete construction of a new Pacific Energy Resources hopes to drill for oil in its Corsair immediately pointed to the contract as a prece- liquefaction plant at Prudhoe Bay. The plant will prospect in Alaska’s Cook Inlet, company Chairman and CEO see GAS SALE page 15 Vladimir Katic told Petroleum News Feb. 13. It all depends on when the company can bring a jack-up rig to the inlet and how ● EXPLORATION & PRODUCTION that timing relates to the drilling season — if the rig were to reach Alaska by May or June the company would drill a well into the potential oil reservoirs. If, on the other hand, the rig Gas future at Mooses Tooth were to arrive in September, there would only be time to drill a gas well, Katic said. NPR-A: Lookout an oil discovery; ConocoPhillips targets oil at Spark, Rendezvous “It all depends when the jack-up arrives,” he said. Gas is thought to exist in the prospect in the Beluga and By KRISTEN NELSON and condensate. Petroleum News “The proven oil is see CORSAIR page 18 Lookout; we’re trying to find onocoPhillips Alaska is doing appraisal more oil.” work in its newly approved Mooses Tooth Isaacson said the goal is to BREAKING NEWS C unit in the National Petroleum Reserve- have oil production from both Alaska. (See “Mooses Tooth processing at Lookout (proposed CD-6 4 Time for change in Alberta? Stelmach faces owly, Alpine” in Feb. 10 issue at www.petroleum- pad) and Spark and news.com/pnads/501786075.shtml.) Rendezvous (proposed CD-7 disaffected voters; one opposition leader wants to copy Alaska’s tax And it’s looking for oil. pad) in the short term. EREC ISAACSON But there is also gas in the Mooses Tooth unit, That would allow produc- 6 Armstrong gets North Fork extension: Company still Erec Isaacson told Petroleum News Feb. 11. tion from Mooses Tooth perhaps as early as 2012 seen as best chance for pipeline into southern Kenai The discovery at Lookout, one of five possible or 2013, he said. participating areas at Mooses Tooth, is oil, said “In the long term it would be a gas producing Isaacson, ConocoPhillips Alaska’s vice president 10 ConocoPhillips moving forward with gas line: unit,” he said. of exploration and land. And that will require a gas pipeline off the Intends to move ahead with field work starting this summer But other discoveries in the unit are both gas see FUTURE page 18 2 PETROLEUM NEWS • WEEK OF FEBRUARY 17, 2008 contents Petroleum News A weekly oil & gas newspaper based in Anchorage, Alaska ON THE COVER 13 Shell says no Beaufort oil drilling in 2008 TransCanada responds FINANCE & ECONOMY Palmer tells legislators ANNGTC only Alaska, 5 Oil tops $95 a barrel on economic optimism and not using any old permits 14 IEA cuts ’08 forecast for demand growth SIDEBAR, PAGE 17: Legislators want 2004 application 15 Savant, True North Energy ink new deal Exxon to sell ANS gas Savant gets interest in neighboring lease, True North Deal with Fairbanks utility viewed as will get interest in future production precedent for larger commercialization effort from Beaufort Kupcake project Gas future at Mooses Tooth GOVERNMENT Lookout an oil discovery; ConocoPhillips 4 Time for change — in Alberta leadership? looks for oil at Spark, Rendezvous 5 Deh Cho oust grand chief; interim leader says ISER: 2008 construction in Alaska negatively Norwegian’s exit changes nothing for Mackenzie gas line impacted by new tax INTERNATIONAL Pacific Energy hopes to drill down 8 Sonar data justify wider Arctic claims to oil in first well at Corsair 12 Chavez threatens to cut off oil sales to U.S. EXPLORATION & PRODUCTION 14 Spying in Norway at Cold War levels 4 BP applies for Liberty gravel mine site LAND & LEASING 4 BP plans shallow water seismic at Liberty 6 Armstrong gets extension for North Fork 5 Renaissance puts Umiat drilling on hold Company has until later June to drill well; North Later than usual tundra travel opening, Funding Fork still seen as best chance for pipeline challenges delay appraisal program at NPR-A oil extensions into southern Kenai field, but seismic shoot under way 6 Potential Alaska state and federal oil and gas lease sales 9 Chevron to explore for gas from Anna 7 State issues final Cook Inlet sale notice Following development oil drilling at Granite Point, NATURAL GAS Chevron looking at drilling untapped shallow gas horizons in aging Cook Inlet field 7 Port authority suggests parallel process 10 January ANS production down 3% 8 Palin, gas team meet with ConocoPhillips 8 Governor’s gas team schedules final town hall meetings 12 BRPC, ConocoPhillips spud ANS wells 10 Conoco moving forward with gas line NEWS FLASH Brooks Range spuds second exploration well 10 Russians stymie Canadian LNG plan of season; ConocoPhillips starts work on Char, gets permits for Spark SAFETY & ENVIRONMENT 12 DOE issues report on North Slope oil, gas 13 Whale hunter says ‘show me’ PETROLEUM NEWS • WEEK OF FEBRUARY 17, 2008 3 Alaska - Mackenzie Rig Report Rig Owner/Rig Type Rig No. Rig Location/Activity Operator or Status The Alaska - Mackenzie Rig Report as of February 14, 2008. Active drilling companies only listed. Alaska Rig Status TD = rigs equipped with top drive units WO = workover operations CT = coiled tubing operation SCR = electric rig North Slope - Onshore Akita Drilling Ltd. This rig report was prepared by Alan Bailey Dreco 1250 UE 63 (SCR/TD) Drilling at Jacob’s Ladder Anadarko Doyon Drilling Dreco 1250 UE 14 (SCR/TD) Prudhoe Bay 4-14A BP Sky Top Brewster NE-12 15 (SCR/TD) Kuparuk 3K-102 ConocoPhillips Dreco 1000 UE 16 (SCR/TD) Prudhoe Bay F-17A BP Dreco D2000 UEBD 19 (SCR/TD) Alpine CD3-113 ConocoPhillips OIME 2000 141 (SCR/TD) Kuparuk River Unit CHAR1 ConocoPhillips TSM 7000 Arctic Fox #1 Stacked in Yard Pioneer Natural Resources PATRICK JUDY Arctic Wolf #2 Stacked in yard FEX Kuukpik 5 Preparing for rig move Kupcake #1 Savant Nabors Alaska Drilling Trans-ocean rig CDR-1 (CT) Stacked, Prudhoe Bay Available Dreco 1000 UE 2-ES Point Macintyre P2-32 BP Mid-Continental U36A 3-S Milne Point MPE-31 BP Oilwell 700 E 4-ES (SCR) Prudhoe
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