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In a June 8 decision, Alaska Division of Oil and Gas Director Tom Stokes said the division received no timely comments on an April 12 request for substantial new information for the 2021 North Slope and Beaufort Sea areawide oil and gas lease sales. Sales are held if a written best interest finding. ....
Providing coverage of Alaska and northern Canada s oil and gas industry Beaten to pulp Kay Cashman Petroleum News Dr. Paul Craig, a veteran oil and gas investor in Alaska, told Petroleum News April 6 what other experienced North Slope operatives were only willing to say off the record: Although 88 Energy stock got beaten to a pulp on the news about the Merlin 1 well, I like the results. But the market doesnt read between the lines. Short-term investors see plug and abandon and assume its a dry hole with no commercial potential, Craig said. Kevin Frank, a geologist and section chief of the state Division of Oil and Gas resource evaluation team, agreed. ....
Providing coverage of Alaska and northern Canada s oil and gas industry North Fork plan of development approved Glacier asks for delay in scheduled contraction to allow new owner, Gardes Holdings, to assess opportunities once state OKs transfe Kristen Nelson Petroleum News A Feb. 25 decision, signed by Alaska Division of Oil and Gas Director Tom Stokes, approved the 56th plan of development for the North Fork unit submitted by Cook Inlet Energy, a Glacier Oil & Gas Corp. company. Glacier sold North Fork to Gardes Holdings Inc. in November (see story in Nov. 15 issue.. [additional news subjects in this story] Contraction delay request ....
Leaders of the state development bank now must decide what to do with a failed North Slope oil project in which they have invested $70 million. The Alaska Industrial Development and Export Authority took control of the Mustang project in December following years of fits and starts by former operator Brooks Range Petroleum Corp. that ultimately led the state-owned authority to foreclose on the project assets. Approximately a year ago the AIDEA board of directors approved what ended up being the last in a series of amendments to its $70 million total equity investment in Mustang, which had previously been morphed into a loan to Brooks Range s parent companies. ....
Alaska development bank forecloses on oil field assets after $70 million investment Published January 21 Share on Facebook Print article Leaders of the state development bank now must decide what to do with a failed North Slope oil project in which they have invested $70 million. The Alaska Industrial Development and Export Authority took control of the Mustang project in December following years of fits and starts by former operator Brooks Range Petroleum Corp. that ultimately led the state-owned authority to foreclose on the project assets. Approximately a year ago the AIDEA board of directors approved what ended up being the last in a series of amendments to its $70 million total equity investment in Mustang, which had previously been morphed into a loan to Brooks Range’s parent companies. ....