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Tag Archives: ConocoPhillips

First oil flows from Alaska reserve set aside in ’23

This Feb. 9, 2016, photo shows a million-pound drilling rig at the CD5 drilling site on Alaska's North Slope. ConocoPhillips in October 2015 became the first to drill for oil in the National Petroleum Reserve-Alaska, a region the size of Indiana set aside by President Warren G. Harding in 1923. Getting to this point took compromises with Alaska Natives while keeping environmental concerns in mind. (AP Photo/Mark Thiessen)

NUIQSUT, Alaska (AP) — Rising from the edgeless, wind-scoured, snow-covered tundra on Alaska’s North Slope lies a million-pound drilling rig pulling the first commercial oil from a reserve set aside nearly a century ago. ConocoPhillips is the first oil company to draw crude from the National Petroleum Reserve-Alaska, an area the size of Indiana which President Warren G. Harding dedicated ...

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Oil companies lose pipeline case that could be worth hundreds of millions to Alaska

A federal agency has ruled that the oil-company owners of the trans-Alaska pipeline had so badly managed an upgrade project, they can’t recover their costs by charging higher fees for moving oil, a decision that could save the state and independent producers hundreds of millions of dollars over the life of the pipeline. The “imprudently” managed project to update four ...

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Governor plans to call for company buy-out in gas project

JUNEAU, Alaska — Gov. Bill Walker said Monday that he plans to recommend to legislators that the state buy out TransCanada Corp.’s position in the major liquefied natural gas project that Alaska is pursuing. Under an agreement that predates Walker’s administration, TransCanada, a Canadian pipeline company, would hold the state’s interest in the pipeline and gas treatment plant, with the ...

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ConocoPhillips puts Cook Inlet gas fields up for sale

Two aging natural gas fields in Cook Inlet that help provide power to much of Southcentral Alaska, the state’s most populous region, are up for sale, owner ConocoPhillips Alaska announced on Tuesday. The Beluga River and North Cook Inlet fields account for nearly all of ConocoPhillips’ natural gas production in Alaska, but output has been declining for years and, according ...

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Chesapeake Energy suspends dividend payments

Chesapeake Energy Corp, the second-largest U.S. natural gas producer, said on Tuesday it will suspend dividend payments starting in the current quarter to save up to $240 million a year. The company, which like other oil and gas producers has been hurt by a drop in prices, had planned to pay an annual dividend of 35 cents per share. Analysts ...

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