Alaska Upstream: 2015 in review

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03 February 2016

Alaska Upstream: 2015 in review

Report summary

In 2015, Alaska leasing activity and exploration drilling followed the trend seen across the upstream industry as operators decreased budgets in response to the dramatic collapse in oil prices. In terms of acres leased, overall activity across the state reached a 10-year low and fell by 70% year-over-year. In 2016, we expect the trend of lower discretionary spend, exploration drilling, and leasing levels to continue. The current environment does present an opportunity for an operator to gain a significant position in a well-understood conventional basin; however, costs related to conventional exploration and development have not yet decreased as much as those related to unconventional development. Despite prevailing commodity prices and high costs, the project pipeline on the North Slope is the busiest it has been in years, with five projects potentially reaching first oil before 2020.

Table of contents

Tables and charts

This report includes 4 images and tables including:

  • Alaska 2015 lease sales
  • Acreage awarded and signature bonuses in Alaska, 2006-2015
  • Exploration wells completed in Alaska, 2006-2015
  • Future North Slope liquids production, 2015-2030

What's included

This report contains:

  • Document

    Alaska Upstream: 2015 in review

    PDF 1.13 MB