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Senate Revives ANWR No News Is Bad News page Ted Stevens tells Alaska legislators A7 to focus on investment climate Vol. 11, No. 13 • www.PetroleumNews.com A weekly oil & gas newspaper based in Anchorage, Alaska Week of March 26, 2006 • $1.50 WASHINGTON, D.C. This month’s Mining News inside Senate revives ANWR Delegation, Arctic Power gird for battle in U.S. House with budget resolution BY ROSE RAGSDALE 49 vote victories on the overall budget For Petroleum News resolution and an amendment intro- duced by Sen. Pete Domenici, R-N.M., aving survived the U.S. Senate to fund the Energy Reserve Fund with budget resolution process against all revenues from ANWR leases. H odds, language that calls for open- ANWR opponents, led by Sen. Maria ing the coastal plain of the Arctic Cantwell, D-Wash., bypassed an attempt National Wildlife Refuge to development to spike ANWR drilling language in is moving to the next arena in Congress. favor of trying to bring down the entire The U.S. House of Representatives is “I am optimistic our budget resolution if ANWR instruction scheduled to debate the proposed blue- chances are better was included. The effort failed despite print for the FY2007 federal budget dur- this year than they hope fostered earlier in the week when were last year. That ing the week of March 26. Senate vote was several Republican senators vowed to The Senate adopted $2.9 trillion legis- mouth-to-mouth vote against drilling. lation March 16, including a provision for resuscitation.” The White House included ANWR – Jerry Hood, Arctic oil and gas exploration and development Power in ANWR. Republicans won narrow 51- see ANWR page A11 CANADA Canadian gas in trouble? BY GARY PARK For Petroleum News LNG poses threat to Arctic gas pipelines he loss of accessible, low-cost natural gas Coal gas touted for Mackenzie reserves combined with fast-rising finding Just a handful of liquefied natural gas termi- T and development costs are posing a threat to nals could throw a wrench into the Alaska and gas pipeline by junior company Canada’s natural gas sector. Mackenzie Delta gas projects, a Calgary ana- Add this year’s slide in gas prices to the mix and lyst warned. P resident George W. Bush is promot- what looked like a robust future only three months Bill Gwozd, the Ziff Energy Group’s vice ing the concept. So are Montana Gov. ago has turned sour. president of gas services, said five plants Brian Schweitzer and Alberta Premier The challenge is outlined in recent findings by importing 1 billion cubic feet per day of LNG Ralph Klein. Ziff Energy Group, which has predicted output would match the combined output of the two That’s good enough for West Hawk from the Western Canada Sedimentary basin will northern schemes. Development, a junior mineral explo- shrink by 2.6 billion cubic feet per day to 14 bcf And delays would further imperil the two ration and development company. per day over the next decade. Arctic pipelines, which are already lagging sev- Prompted by the enthusiasm of those Having previously reported that the full-cycle eral years behind their original timetables, he political leaders for clean coal technolo- cost of replacing reserves in the basin was C$6.10 gies, the Vancouver-based firm is now see LNG page A11 developing a plan to turn vast coal see GAS page A10 deposits in the Northwest Territories into synthetic gas in hopes of occupying some of the space on the COOK INLET proposed Mackenzie Valley gas pipeline. West Hawk is pinning its dreams on recently acquired coal holdings near Tulita (also known as Fort Norman) and near No news is bad news Fort Liard. The purchase covers all rights to 272,503 acres, with one 11,500 acre property estimated to hold reserves of 273 million Cook Inlet is finally getting a jack-up rig, but is anyone paying attention? tons of thermal coal, just a fraction of the billions of tons West BY KAY CASHMAN Hawk figures its properties hold. Petroleum News Mark Hart, president and chief operating officer of West see INSIDER page A10 he latest news about the jack-up rig coming to Alaska this summer is that there isn’t much T news. After all the hullabaloo about the need for a jack-up in Cook Inlet to get offshore BREAKING NEWS prospects drilled, only one oil and gas company has approached Escopeta Oil about using it. A3 U.S. arm of Shell mystery buyer: Calgary-based SURE Escopeta is the small Houston-based independent Northern Energy to probe untapped oil sands resource in new area that is bringing the rig to Alaska, footing the multi- million dollar mobilization, as well as the day rate A4 AVCG snags Canadian partner: Signs joint venture with charges. TG World Energy to explore North Slope, may spend $46.9M 2006-09 And after all the concern politicos have given to looming natural gas shortages in Southcentral Alaska, only one government official has offered A8 Putting spur line in context: Alaska gas development to help get an exemption to the federal Jones Act. authority report identifies 16 alternatives for Southcentral gas shortage see INLET page A4 Tellus jack-up contents Petroleum News A weekly oil & gas newspaper based in Anchorage, Alaska ON THE A COVER FINANCE & ECONOMY Senate revives ANWR Alaska Congressional delegation, Arctic Power gird for battle in U.S. House with budget resolution Canadian gas in trouble? Ziff analysts now put finding and development costs in the Western Canada basin at C$17 per barrel: LNG poses threat to Arctic pipelines A5 Taking their place in the line-up Cook Inlet jack-up in jeopardy? Marathon and BP might be ready to play in the sands, while Japan steps up contacts with Alberta government Concerns about gas shortages in and industry Southcentral Alaska have not produced political, industry interest in rig A6 EIA projects WTI at $64 per barrel in 2006 GOVERNMENT OIL PATCH INSIDER A5 Ted Stevens: focus on investment climate Coal gas touted for Mackenzie gas Administration calls for return to original production pipeline profits tax bill; Ben Stevens says he opposes committee substitute B3 Senate Resources ups ante for PPT ON THE B COVER Committee substitute increases production profits tax Forest talks Alaska gas rate from 20 to 25 percent, keeps Cook Inlet oil under present tax Resource, Lower 48 pricing, excess of demand over supply motivation to B6 Venezuela looks at privatization contract invest Aboriginal leader’s quest INTERNATIONAL Youthful Liard chief works with government to hold summer B4 Putin commits to gas supplies for China Yukon land sale B5 Mexico: alliances needed for deepwater Resources kills clawback LEGAL House Finance to start on governor’s production profits tax bill in late March B2 Kerr-McGee sues Interior over royalties Heavy oil not in PPT bill NATURAL GAS Barents Sea exploration well a bust A8 Putting Alaska gas spur line in context Oil prices steady: inventory vs. jitters Report for Alaska Natural Gas Development Authority State issues ACMP determination for Kenai identifies 16 energy alternatives for Southcentral gas storage gas shortage EXPLORATION & PRODUCTION SAFETY & ENVIRONMENT A3 Shell breaking ground in oil sands B2 BP mulls options following federal order U.S.-based arm of Dutch mega-major emerges as B6 Polar ice loss adds to rising sea levels mystery buyer at Alberta lease sale B8 Pipe corrosion big threat in Alaska A4 AVCG snags Canadian partner PETROLEUM NEWS • WEEK OF MARCH 26, 2006 A3 G ALBERTA Shell breaking ground in sands U.S.-based arm of Dutch mega-major emerges as mystery buyer at Alberta lease sale; creates new Canadian subsidiary SURE Northern Energy to probe untapped resource BY GARY PARK the primary developer and producer if the A stronger indication of what is For Petroleum News first nation relinquishes control of its under discussion is expected at a leases and simply collects royalties. Texas-based arm of Royal Dutch community meeting on April 4 when A stronger indication of what is under Shell has disclosed it paid a record the Fort McKay leadership will discussion is expected at a community A C$468 million for almost 220,000 meeting on April 4 when the Fort McKay unveil details of work done by the acres of northern Alberta oil sands leadership will unveil details of work leases in February, ending six weeks of engineering firm SNC Lavalin to put done by the engineering firm SNC speculation about the identity of the mys- a cost estimate on a mining project. Lavalin to put a cost estimate on a mining tery buyer. project. Shell Exploration and Production in Canadian subsidiary’s ongoing business. Core drilling is also under way to the Americas said March 21 it is creating In addition to Athabasca, Shell Canada define the quality of the reserves. SURE Northern Energy, a new Calgary- is also playing a role in an attempt by a Earlier reports have pointed to a possi- based subsidiary, to evaluate and poten- tiny aboriginal community in northeast- ble 25,000 bpd operation coming on tially develop the heavy oil resources ern Alberta to develop a C$1 billion min- stream in the 2013-2015 period. using possible ground-breaking technolo- ing project covering more than 8,000 The land is close to the massive oil gies. acres holding an estimated 500 million sands operations run by Shell, Syncrude SURE is separate from Shell’s 78 per- barrels of recoverable oil. Canada and Suncor Energy. cent owned Shell Canada, which is 60 The Native-owned Fort McKay Group It was inherited by the Fort McKay percent operator of the Athabasca oil of Companies, a conglomerate of seven community as part of a 15,000-acre land sands project in partnership with Chevron businesses, has been working as an oil claim settlement that gives the communi- Canada and Western Oil Sands, each field service firm for the past decade and ty C$41 million in cash over three years, holding 20 percent.
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