The oil and gas industry is big business in Alaska with oil companies like Buccaneer, Furie and Linc Energy joining the ranks of BP, ConocoPhillips, ExxonMobil and Royal Dutch Shell. Because oil throughput in the trans-Alaska oil pipeline is declining, these newcomers are exploring at an aggressive rate to work toward development and production in order to help fill the pipeline.
A natural gas shortage in Southcentral Alaska this winter appears to have been averted, but longer-term problems in the regional gas supply picture remain. Hilcorp Energy LLC took control of Marathon Oil Co.’s Cook Inlet assets, mostly gas producing wells, on Jan. 31 as the sale of those assets was completed. Hilcorp had previously acquired Chevron Corp.’s Inlet properties, which included the producing offshore oil platforms.