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Walker nominates Beaufort, Chukchi, and Cook Inlet for 2017-2022

Morning Headlamp, October 13, 2016


CNBC contributed to ongoing coverage of the Caelus Energy Smith Bay find, specifically noting that the state's finances are a hot topic once again. According to the article, "Caelus Energy, formed in 2011 and backed by private equity firm Apollo Global Management, has advocated keeping the existing tax structure in place. In a release announcing the Smith Bay find, Caelus CEO Jim Musselman said: "Fiscal stability going forward is critical for a project of this magnitude. Without the state tax credit programs, none of this would've happened, and I'm not sure Caelus would've come to explore in Alaska."


"This is a big deal." The Alaska Dispatch News covered Ahtna's plans to do exploratory drilling near the Glenn Highway. A huge gas field, if Ahtna is lucky enough to find one, could lead to gas sales across a much bigger chunk of Southcentral Alaska, contributing to new business and employment opportunities, said officials with Ahtna. The company represents mostly Athabascan people from eight villages in the Copper River region. "This is a big deal," said Hillary Hagberg, an Ahtna shareholder from Anchorage and drilling roustabout.


Alaska nominated the Beaufort and Chukchi seas and Cook Inlet for inclusion in the 2017-22 federal Outer Continental Shelf management program being prepared by the US Bureau of Ocean Energy Management. The action is necessary to assure that one lease sale in each area remain in the program, Gov. Bill Walker (I) said in an Oct. 6 letter to US Sec. of the Interior Sally Jewell.


Tim Bradner calls for the need for caution when approaching the latest Caelus find. According to Bradner, "we have to view Caelus' find with a certain caution. The 6 billion-barrel figure, for example, is oil in place, or the fluids locked in the reservoir rock. Getting it out of the rock is the trick. Caelus estimates that oil "recovery," or the oil actually produced, will be about 35 percent of oil in place, or just under 3 billion barrels." Bradner also notes the difficult location and the length of piping required to take full advantage of the discovery.


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First Reads

Huge Alaska oil discovery fuels debate over state support for energy industry
CNBC, Tom DiChristopher, October 12, 2016

Ahtna drills cautious well as Native companies step into oil and gas exploration
Alaska Dispatch News, Alex DeMarban, October 12, 2016

Caelus oil discovery is good news, but let's not celebrate yet
Alaska Dispatch News, Tim Bradner, October 12, 2016

Alaska government nominates areas for federal 2017-22 OCS program
PennEnergy, Nick Snow, October 12, 2016

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