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7 Pages

Alaska Upstream: 2015 in review

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.

What's included?

This report includes 2 file(s)

  • Alaska Upstream: 2015 in review PDF - 1.13 MB 7 Pages, 0 Tables, 4 Figures
  • AK 2015 review 1.xls XLS - 195.00 KB


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  • Executive Summary
  • 2015 leasing and exploration
    • North Slope
    • National Petroleum Reserve- Alaska
    • Federal Outer Continental Shelf- Beaufort and Chukchi seas
    • Cook Inlet
  • Development highlights and what to watch in 2016
    • Point Thomson – 2016 & Alaska LNG
    • Armstrong at Qugruk
    • ConocoPhillips at GMT-1
    • Near-term North Slope developments: Mustang, Nuna, Liberty

In this report there are 4 tables or charts, including:

  • Executive Summary
  • 2015 leasing and exploration
    • Alaska 2015 lease sales
    • Acreage awarded and signature bonuses in Alaska, 2006-2015
    • Exploration wells completed in Alaska, 2006-2015
  • Development highlights and what to watch in 2016
    • Future North Slope liquids production, 2015-2030
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