US—revival in the north
Drilling in Alaska is pricey compared with tight oil in the Lower 48. But the potential remains huge
At one point in the 1970s Alaska was home to some of the largest oilfields ever found in the world. The rise of lower cost tight oil in the Lower 48 may have eclipsed the North Slope—but, at the right price, much riches lie in wait. Still, the recent history has been about decline. Alaskan exploration in recent decades has dropped off and production of around 490,000 barrels a day is now barely a quarter of that heyday high. The major players—ConocoPhillips, BP and ExxonMobil—seemed content to milk their white elephants and skim the cash. That could change with some compelling new discoveries that have altered the landscape. In early 2016, Denver-based Armstrong Energy made a major strike at
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
