Browsed by
Category: Oil & Gas Taxes

A push for new oil taxes from state House

A push for new oil taxes from state House

Legislature careens toward end-game; fiscal structure key issue The Legislature is careening toward an end- game of sorts, and it could happen fast. The state House got the operating budget to the Senate last week after delays – but now oil taxes have emerged as a factor. The House Finance Committee dusted off a part of last year’s oil tax package and is reintroducing it as a bill, and possibly a condition in accepting the Senate’s fiscal reform package. What’s…

Read More Read More

Oil, mining and defense increases offset other decline

Oil, mining and defense increases offset other decline

Construction spending to rise 4 percent in 2018 Construction spending will rise 4 percent in Alaska in 2018 to $6.6 billion, pushed up by a recovery in capital spending by oil and gas companies. However, with oil taken out of the total, all other construction will be down 2 percent, to $4.1 billion, according to the latest annual construction forecast prepared by the University of Alaska Anchorage’s Institute of Social and Economic Research. ISER does the work yearly for the…

Read More Read More

Buccaneer gets ready to develop new gas in Inlet

Buccaneer gets ready to develop new gas in Inlet

Buccaneer Energy has formed a project team to plan development of a natural gas discovery at the Cosmopolitan offshore Cook Inlet prospect, company CEO Curtis Burton said in a teleconference with investors Sept. 10. “Cosmo has turned out to be substantially nicer than we had ever hoped for,” when the asset was acquired from Pioneer Natural Resources, Burton said. The plan is to work toward development of a gas discovery in the upper reservoir sections of the field and to…

Read More Read More

Alaska’s 2012 oil tax debate – a backgrounder

Alaska’s 2012 oil tax debate – a backgrounder

It has been two and a half months since the Legislature adjourned its special session on oil taxes. Lawmakers have long since returned home to ponder the failure of the session, and to busy themselves, in most cases, on re-election campaigns. There was a lot of work done on oil taxes in the 2012 session and despite the failure, in the end there was some progress on this divisive and controversial topic. Here’s the problem: As is well known, oil…

Read More Read More

Oil operators cautiously optimistic about 2012

Oil operators cautiously optimistic about 2012

Alaska oil and gas operators are cautiously optimistic about prospects in 2012 on several fronts. Here’s an outline of where things stand for the industry in the new year: • The state Legislature will resume work on a revamp of the state’s oil and gas production tax when it goes into its annual session Jan. 17, and although the measure remains highly controversial there are some signs that key obstacles may be overcome. • Shell is very close to securing…

Read More Read More

Progress made on state’s plan for 24-inch gas pipeline from slope

Progress made on state’s plan for 24-inch gas pipeline from slope

Progress is being made on the state’s 24-inch gas pipeline project. A 474-mile state right-of-way was granted to the state’s planned 24-inch gas pipeline July 25, and a Draft Environmental Impact Statement for the $7.5 billion project is due in August. The Alaska Gasline Development Corp., a state corporation planning the project, hopes for a final EIS by early 2012, but it will still be a while before dirt is turned. More engineering and technical studies are needed, which will…

Read More Read More