Alaska upstream: 2019 in review and what to look for in 2020

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2019 was a busy year for Alaska with a string of successful appraisal campaigns, some ground-breaking announcements on the corporate landscape and the filing of a new ballot intuitive. Fourteen exploration and appraisal wells were drilled with resulting resource upgrades announced at Willow, Pikka, and Narwhal. However, this success wasn’t echoed in the producing assets. 2019 proved to be yet another year of production decline for the state. A string of notable corporate deals was announced climaxing in August when BP declared its exit from the region in a US$US5.6 billion deal with Hilcorp. In August, a new ballot initiative, the Fair Share Act, was filed aiming to increase government tax take on Alaska largest fields. Finally, the year was closed out with another large corporate announcement with ConocoPhillips stating its intention to divest 25% of its North Slope assets. 2020 looks set to be an equally exciting year.

Table of contents

  • 2019 lets down as pivotal year...
  • Could 2020 be the turnaround year?
  • 2019 - size of the prize just keeps growing
  • 2020 - activity remains strong with new prospects to test
  • Armstrong doubles down in the NPR-A
  • US$8 million bid on state-administrated lands
  • Arctic National Wildlife Refuge to finally open up
  • 2019 - changing corporate landscapes
  • Get ready for more changes in 2020
  • Fiscal uncertainty comes back on the table in 2019
  • Outcome is set for 2020
  • Pikka and Willow progressing to FID
  • Eyes peeled for Hilcorp taking the operatorship reins at Prudhoe Bay
  • Battle of LNG rages on
  • Liberty - FID slips yet another year

Tables and charts

This report includes 5 images and tables including:

  • Alaska production
  • Exploration drilling
  • Production by company January 2019
  • Forecast production by company January 2021
  • NPV10 changes for North Slope assets impacted by the FSA

What's included

This report contains:

  • Document

    Alaska upstream: 2019 in review and what to look for in 2020

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