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Category: Oil & Gas Taxes

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…

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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…

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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…

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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…

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