Alaska upstream: 2020 in review

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13 January 2021

Alaska upstream: 2020 in review

Report summary

Alaska's upstream sector faced challenges similar to many other regions in 2020. Remote worker access was challenged and companies faced difficult decisions on idling rigs, shutting in production, and delaying project plans. Industry also faced off against a tax bill proposal and new corporate dynamics as Hilcorp took over operatorship of Prudhoe Bay. In this note we highlight the key events of the year including rig activity, monthly production trends, exploration finds, leasing results and major project news. There remains much to be positive about. After several years of exploration success and new company entries, Alaska is now poised to witness a new era of investment and production growth.

Table of contents

  • Executive summary
    • Production impacted by shut-ins and reduced drilling
  • Exploration success at Mitquq, Stirrup and Harpoon
    • Controversial ANWR sale sees limited industry interest
    • NPR-A (National Petroleum Reserve - Alaska)
    • North Slope - Alaska state jurisdiction
    • Cook Inlet
    • Tax bill changes voted down
    • Premier walks and others deal
    • Final investment decision looming for Pikka after development plan tweaks
    • Willow enters FEED, FID expected in late 2021

Tables and charts

This report includes 2 images and tables including:

  • Alaska's rig count plummets
  • Monthly production by field

What's included

This report contains:

  • Document

    Alaska review of 2020.xlsx

    XLSX 160.36 KB

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    Alaska upstream: 2020 in review

    PDF 995.86 KB