Tegan Hanlon, Alaska's Energy Desk - Anchorage
Storage concerns had driven the company to cut oil flow down the trans-Alaska pipeline by as much as 15% earlier this month.
It’s a new way of doing business for the state department that has long relied on in-person auctions and sealed bids.
Demand for oil is starting to creep back as the economy reopens, and oil producers globally have made major cutbacks to production.
The companies are petitioning the Regulatory Commission of Alaska to keep a list of documents and other information confidential, including details about whether the recent turmoil in the industry has impacted Hilcorp’s ability to pay for the $5.6 billion deal.
Conoco will cut oil production in Alaska by about 100,000 barrels per day for the month of June. That's about a fifth of the crude that typically flows down the trans-Alaska pipeline.
‘The first glance at what’s coming’: Oilfield service companies alert state of more than 250 layoffs
Across the country, companies that provide oilfield services and equipment are cutting jobs and bracing for bankruptcy as the pandemic launches the oil and gas industry into a tailspin.
The oil and gas giant says it expects the deal to close in June.
While crude prices have continued to plummet in recent weeks, and oil companies have announced spending cuts, Monday’s price meltdown was particularly staggering.
ConocoPhillips said Thursday that it will cut capital spending in Alaska by another $200 million as demand plummets and oil prices tumble to an 18-year low. That’s on top of a $200 million reduction the oil giant announced last month.
The City of Valdez is taking a fight to have Hilcorp reveal its finances to state Superior Court in Anchorage.
The industry groups claim that some signature gatherers were paid more than $1 per signature, in violation of state law. But supporters of the initiative ardently deny the allegations, calling them baseless.
Banks have balked at financing the $5.6 billion deal, the newspaper reported on Thursday.
The impacts of the coronavirus continue to reverberate across Alaska, including its oil fields.
The number of Alaskans diagnosed with COVID-19 had grown to 147, up from 143 cases a day earlier.
The worker is an Alaska resident who had traveled out of state, according to Alaska's health commissioner.
Wristbands, longer shifts, fever checks: How Alaska oil companies are responding to the global pandemic
While work is continuing on Alaska’s remote North Slope, oil and gas companies say it’s not business as usual. They’re taking new precautions to keep the virus away.
Switch from BP’s corporate giving model to Hilcorp’s employee contributions could be ‘a bucket of cold water’ for nonprofits
Hilcorp’s philanthropic strategy is more about individual employee giving than corporate sponsorship. And, a national expert says, that’ll diffuse the giving and make it harder to predict — at least at first.
When the initiative would appear on a ballot depends on when the Alaska Legislature wraps up its work.
As it prepares to exit the state, BP donates nonprofit meeting space in Anchorage to community foundation
The Alaska Community Foundation says it will maintain the energy center as a free meeting space for at least the next 20 years.
Alaska regulators say they need more time to weigh Hilcorp’s request to keep its finances confidential
The Regulatory Commission of Alaska has extended its deadline to March 12.