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Petroleum News 101313: Petroleum News 082904 page Q&A: Kawasaki: SB 21 went too 3 far; Fairbanks needs energy relief Vol. 18, No. 41 • www.PetroleumNews.com A weekly oil & gas newspaper based in Anchorage, Alaska Week of October 13, 2013 • $2.50 PIPELINES & DOWNSTREAM New crude crossing BUCCANEER ENERGY BUCCANEER Report says construction could begin within months on inlet subsea pipeline By WESLEY LOY In January, Miller said Tesoro had agreed For Petroleum News to fund up to $1.4 million in design costs onstruction of a new subsea crude oil pipeline for the proposed pipeline. Cacross Cook Inlet could begin as soon as 2014. pipeline is going to be built and construction could That’s the word from the Cook Inlet Regional begin as early as spring 2014.” Citizens Advisory Council, a congressionally sanc- The Endeavour jack-up drilling rig tioned organization that monitors oil industry Cook Inlet Energy’s idea activity in the inlet. This news seems to build on a proposal that first “Cook Inlet RCAC has been informed that Buccaneer delays Southern Cross; emerged more than a year ago from Cook Inlet Tesoro is considering the installation and operation Energy LLC, a west side oil and gas producer. Endeavour to drill at Cosmo next of a trans-Foreland subsea pipeline to transport The company had said it was pursuing a 29- crude oil from the west side of Cook Inlet to Looking to avoid getting caught in the fast approaching icy mile, $50 million subsea pipeline from its Kustatan Tesoro’s refining facilities in Nikiski,” the council season, Buccaneer Energy Ltd. is postponing plans to drill a production facility near West Foreland point to the well at its offshore Southern Cross unit this year. reported in its October newsletter. “Although still The Australian independent said that it recently moved its in the planning stages, all indications are that this see SUBSEA PIPELINE page 19 Endeavour jack-up drilling rig to Port Graham three weeks earlier than planned for “minor winterization work and annu- NATURAL GAS al hull inspections.” From Port Graham, the rig is scheduled to head back across Cook Inlet to drill the Cosmopolitan No. 2 well at the prospect off the coast of Anchor Point. Higher but not highest Buccaneer plans to return to Southern Cross when the next summer drilling season begins in mid-April 2014, but before The cost of Cook Inlet gas to consumers still compares favorably with elsewhere the company can drill it must first negotiate extensions to the drilling commitments it will be missing by cancelling the pro- By ALAN BAILEY Apparently this disparity in prices gram this year. Petroleum News Those include a private farm-in agreement with Hilcorp between Alaska and elsewhere in the Alaska LLC on two of the four leases at the unit. Buccaneer ticker shock over gas prices for Southcentral United States arises from the high farmed-in the two leases in 2010 from Chevron Corp., which SAlaska gas consumers in recent years, as prices transmission and distribution costs for subsequently sold its Cook Inlet assets to Hilcorp. Among have risen in response to tightening gas supplies gas delivered to many Lower 48 other commitments, the arrangement requires Buccaneer to from the Cook Inlet basin, have led to comments residents. drill a well on the leases to a depth of at least 8,500 feet. about Alaska gas transitioning from being the Buccaneer said it is currently in negotiations with Hilcorp to cheapest in North America to the most expensive. extend the agreement. But while this perspective on the price of gas at According to data presented on Enstar’s web- see DRILLING DELAY page 20 Cook Inlet wellheads may be true, the situation for site the average cost of gas to residential customers the prices that consumers experience is more in 2013 has been $8.47 per thousand cubic feet for nuanced. gas, with that figure dropping a bit in the third Nikiski chosen as lead site for Take for example the rates that Enstar Natural quarter. Between April and the end of June Enstar ANS gas LNG plant, terminal Gas Co., Southcentral’s main gas utility, charges its residential customers. see GAS PRICES page 19 The Nikiski area on Southcentral Alaska’s Kenai Peninsula has taken the lead as a site for the liquefaction facility and ter- minal for the proposed NATURAL GAS Alaska LNG project. The project propo- The project proponents — nents — ExxonMobil, ExxonMobil, BP, Clark dances to LNG beat BP, ConocoPhillips and ConocoPhillips and TransCanada — said TransCanada — said Oct. 7 BC premier wants common ground with project proponents, maximum tax revenues Oct. 7 that more than 20 that more than 20 locations locations were evaluated By GARY PARK an upcoming trip to Asia — that a tax were evaluated based on regime for LNG exports should be based on conditions conditions related to the For Petroleum News related to the environ- unveiled within two months, based on ment, socioeconomics, environment, socioeconomics, ritish Columbia Premier Christy SHANE LASLEY a “positive initial response” to a draft cost and other project cost and other project and BClark is on the run these days in her proposal from the industry. and technical issues. technical issues. efforts to find common ground with LNG “We’re still working through the Commenting on that proponents while staying ahead of a details” of a plan to be turned into leg- decision, Alaska Gov. growing clamor over the potential envi- islation in the spring, she said, but was Sean Parnell said the companies have agreed “to pursue the ronmental impact of an LNG export guarded on the likely contents. acquisition of property in the Nikiski area to site the liquefac- industry. CHRISTY CLARK Clark said only that the formula tion facilities associated with the Alaska LNG project,” and She spent a week in Toronto and would allow the British Columbia gov- called the decision “real progress” toward his administration’s Washington, D.C., selling the virtues of British ernment to “take some of the upside, but also live goal of a natural gas pipeline. Columbia as a launching pad for shipments to with some of the downside, as prices rise and fall.” Parnell also said in a statement that the “project is taking Asia, while fending off critics who are challenging The end result is crucial to her hopes of devel- her “commitment to have the cleanest LNG facili- oping a C$100 billion “prosperity fund” from see TERMINAL CHOICE page 20 ties in the world.” Clark told reporters in Washington — prior to see BC’S LNG DEBATE page 18 2 PETROLEUM NEWS • WEEK OF OCTOBER 13, 2013 contents Petroleum News North America’s source for oil and gas news ON THE COVER GOVERNMENT New crude crossing 3 Kawasaki: SB 21 tax change went too far Report says construction could begin Lack of definition of ‘new oil’ also problem; within months on inlet subsea pipeline on gas line, Fairbanks Democrat says state’s Higher but not highest second-largest city in tough position The cost of Cook Inlet gas to consumers 4 Judge rebukes Alberta for ‘bias’ still compares favorably with elsewhere 12 $45K fine stands against ConocoPhillips Clark dances to LNG beat Alaska Oil and Gas Conservation Commission reaffirms BC premier wants common ground earlier finding that company committed violations with project proponents, maximum tax revenues at Kuparuk injection well Buccaneer delays Southern Cross; 12 Alaska royalty board to meet Endeavour to drill at Cosmo next 14 Judge hears conflicting oil spill estimates Nikiski chosen as lead site for ANS gas LNG plant, terminal LAND & LEASING ALTERNATIVE ENERGY 11 State conditionally approves Otter unit Cook Inlet Energy is pleased, aims to ‘prove up’ gas 15 NIF makes breakthrough in nuclear fusion prospect; DNR decision on appeal clarifies EXPLORATION & PRODUCTION Alaska policy on oil and gas units 12 Exxon seeks Pt. Thomson spill plan renewal 18 Potential Alaska state and federal oil and gas lease sales 14 Shell CEO confirms commitment to Alaska NATURAL GAS 15 Great Bear to gather more seismic data 5 A continuing Cook Inlet gas-price saga 15 Kenai Loop well tests at 5.9 mmcf There’s no competitive spot market but with pressure FINANCE & ECONOMY on supplies, prices are likely to continue 6 Encana’s new boss clears decks rising for utility customers 7 Malaysia’s Petronas outlines LNG jackpot Suttles delivers on pledge for ‘bold’ action, removing old executive guard to ‘get back to winning,’ 7 AIDEA commissioning GTL/CTL study regaining investor confidence 9 NordAq backing LNG export plan 8 EIA expects Brent to continue to weaken Independent believes eligible suppliers should band Spot prices down on restart of some crude production together to reopen mothballed facility in Libya, moderated concerns over conflict in Syria; UTILITIES WTI also projected down 10 Who will foot the transmission bill? 10 US workers plug Alberta gap 13 Oil above $101 on hopes for US budget deal Should the State of Alaska fund major upgrades to the Railbelt power transmission grid as 13 RCA extending quality bank timeline part of the state’s infrastructure? Alaska’s Oil and Gas Consultants Geoscience Engineering 3601 C Street, Suite 1424 Anchorage, AK 99503 Project Management (907) 272-1234 (907) 272-1344 Seismic and Well Data www.petroak.com [email protected] PETROLEUM NEWS • WEEK OF OCTOBER 13, 2013 3 G GOVERNMENT Kawasaki: SB 21 tax change went too far Lack of definition of ‘new oil’ also problem; on gas line, Fairbanks Democrat says state’s second-largest city in tough position By STEVE QUINN ial businesses in the people, whether they were experts on the any kind of speed, either, but it doesn’t For Petroleum News North Slope and the issue, or whether they were involved in mean we can let up.
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