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ExxonMobil considering all options on Point Thompson

Morning Headlamp, Sept. 20


Published:

Gov. Bill Walker announced Monday the addition of two new members to the Alaska Gasline Development Corporation Board, including a former president of Alyeska Pipeline Service Co., David Wight and Warren Christian of North Pole to the seven-member board, filling the seat that had belonged to former Fairbanks Mayor Luke Hopkins. Headlamp congratulates both men and is encouraged to see the Governor choosing board members who have experience in Alaska's oil and gas industry. Warren is the President of Alliance member Doyon Associated. 

 

Fighting for "wiggle room." ExxonMobil is considering its options on potential new Point Thompson development scenarios. The oil company in May took a first step required under a 2012 settlement, producing the field's first oil by removing up to 10,000 barrels daily of liquid condensate from natural gas that is produced then re-injected back underground, part of a $4 billion investment in gas cycling. Mark Myers, former commissioner of Alaska Department of Natural Resources under current Gov. Bill Walker, asserted Friday that he believes there is too much "wiggle room" in the settlement for Exxon Mobil and other major owners — including chances to challenge the state and keep acreage.

 

With the June 1 deadline passed, Exxon Mobil and partners must begin engineering or permitting work in one of two areas. They can begin work to expand the gas cycling effort by at least 10,000 to 20,000 barrels of oil daily, according to analysis of the project by Parnell's attorney general in June 2012, Michael Geraghty.

 

American Petroleum Institute's director of Upstream, Erik Milito penned an letter to The Hill highlighting the national security need for Arctic energy development. According to Milito, "Energy resources in the Arctic will be developed with or without U.S. participation. But withdrawing from the Arctic means forfeiting energy security and the opportunity to ensure best practices are applied. The United States did not become the world's leading oil and natural gas producer overnight. Our success is the result of production set in motion years ago. To maintain U.S. energy leadership, and the significant economic and security benefits it brings, the Obama administration must maximize energy opportunities in its next five-year plan. "

 

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First Reads

Walker appoints two new members to state gas line board
Alaska Dispatch News, Alex DeMarban, September 19, 2016

Alaska Railroad to haul two LNG containers in cost-effectiveness test
Fairbanks Daily News Miner, Matt Buxton, September 19, 2016

Exxon Mobil weighs additional development options at Point Thomson
Alaska Dispatch News, Alex DeMarban, September 19, 2016

Cutting off Arctic drilling options would harm US energy security
The Hill, Erik Milito, September 19, 2016

Alaska emergency crews study up for nation's first LNG by rail
KTOO, Elizabeth Harball, September 19, 2016

Alaska Democrat Sues Over Oil Dividend
Courthouse News, Julie St. Louis, September 19, 2016r

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