Tag: production

  • Alaska by the Numbers – October 2019

    Alaska by the Numbers – October 2019

    Here is your free monthly update on what’s going on in Alaska’s economy. The Labor Market Keeps Improving According to the Department of Labor numbers released last week, Alaska extended its winning streak to 12 consecutive months of job growth. The jobs count in September 2019 was a total of 2,000 jobs higher than in…

  • Alaska By the Numbers – August 2019

    Alaska By the Numbers – August 2019

    A lot happened in Alaska during the month of August. Here’s the run down on how we read the headlines. BP and Hilcorp Agreed to Terms on Alaska Assets The news that broke the internet in Alaska last week was a press release from BP. They announced that they were selling all of their remaining…

  • Guess Where Alaska Stands in the Oil Race

    Guess Where Alaska Stands in the Oil Race

    Back in the 1980’s Alaska was a powerhouse in the oil market. At the time, our young oil fields were the envy of our peers. Texas production was falling, approaching 2 million barrels per day from above as Alaska approached the same mark from below. Briefly, Alaska challenged Texas as the number one oil producing…

  • What Will GMT1 Produce For The State Budget?

    What Will GMT1 Produce For The State Budget?

    ConocoPhillips Alaska did a great job of getting the first Greater Moose’s Tooth (GMT1) development into production, ahead of schedule and under budget. We are all excited to have the new oil flowing. It signals the beginning of another renaissance for the North Slope. But, the oil is coming from non-State land in the NPR-A.…

  • Alaska By the Numbers – October Edition

    Alaska By the Numbers – October Edition

    If you check your bank account on Thursday, you should receive your $1,600 PFD. I hope you enjoy it! But if you read these pages, you probably know that deposit is smaller than it would have been if paid according to the statutory formula. I previously estimated the “right” number at $2,931. Now that the…

  • Alaska by the Numbers – September Edition

    Alaska by the Numbers – September Edition

    Each Monday, I update my production and oil price models with the newest data from the week before. Then, I run a new set of simulations and post the results here and here respectively. Those numbers become inputs into a projection of State revenues. I also track changes in jobs, wages, investments, population, and GDP…