Alaska’s Oil & Gas Industry

Alaska runs on oil.

Alaska’s North Slope has produced more than 17 billion barrels of oil since the discovery of the Prudhoe Bay oil field. Oil production has been the engine of economic growth in Alaska. It has funded up to 90 percent of the state’s unrestricted General Fund revenues in most years and has accounted for over $180 billion in total revenue since statehood. Even at today’s low oil prices, oil revenues account for approximately 67 percent of unrestricted General Fund revenues in FY 2017.

The oil industry accounts for one-third of Alaska jobs and about one-half of the overall economy when the spending of state revenues from oil production is considered (ISER, UAA study 2/2011). In other words, without oil, Alaska’s economy would be half its size. If the oil industry expands and prospers, so does Alaska’s economy. Read More at:

As Trump signs GOP tax bill into law, ANWR and nearby oil discoveries on Alaska state lands come into focus

As Trump signs GOP tax bill into law, ANWR and nearby oil discoveries on Alaska state lands come into focus

“Six Sisters” oil wells mark the way to oil riches of ANWR, according to Donkel and Cade Bidding Group

When President Donald Trump signed the $1.5 trillion tax overhaul into law Dec. 22, a provision calling for oil and gas lease sales in the Arctic National Wildlife Refuge raised the profile of ANWR as well as adjacent oil discoveries that may extend from Alaska state lands into the refuge.
Independent Alaska oil and gas lease investors Daniel K. Donkel and Samuel H. Cade – owners of Donkel Oil and Gas LLC – hold one such block of Alaska state oil leases which surround the 1990 ARCO Stinson #1 well oil discovery along the northern margin of the ANWR 1002 Area.
The timing of the tax bill signing coincides with the release of a Donkel and Cade commissioned report on six arctic exploration wells that shed some light on what oil and gas explorers may expect to find below the surface of ANWR.
The “Six Sisters” well trend was reported by Geologist Dr. Robert B. Blodgett in a comparative core sample study of the Stinson #1 well, versus five other wells to the west situated along the Beaufort Sea coastline leading to ANWR.
“The Six Sisters well trend is the gateway into a better understanding of the petroleum resources of northwest ANWR,” Blodgett said. “The Six Sisters wells indicate the presence of two play horizons, consisting of a basal Tertiary play; and a lower Cambrian play.”
In the Tertiary play alone of the Stinson well, a 2010 third party engineering report suggested oil reserves of between 80 and 420 million barrels…. Read More at: