Insight

Alaska upstream: 2020 in review

13 January 2021

Get this report

$1,350

You can pay by card or invoice

Share link

Contact us

Submit your details to receive further information about this report.

First name
Last name
Company
Email
Telephone

Region

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

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.

Executive summary
Operational impacts from coronavirus
- Production impacted by shut-ins and reduced drilling
Exploration success at Mitquq, Stirrup and Harpoon
Leasing in the spotlight
- Controversial ANWR sale sees limited industry interest
- NPR-A (National Petroleum Reserve - Alaska)
- North Slope - Alaska state jurisdiction
- Cook Inlet
Noteworthy happenings
- 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