State regulators have asked Hilcorp, the independent oil company buying BP’s Alaska assets, to disclose whether and how the pandemic-driven crash in oil prices will affect its ability to seal the $5.6 billion deal.
North Slope
Dozens of Alaska villages to lose air service as Ravn announces huge cuts
Alaska’s largest rural air carrier, RavnAir Group, says it’s cutting its service by 90% amid a coronavirus-driven crash in revenue — a move that could leave dozens of rural villages with deeply diminished air service.
Prudhoe Bay worker tests positive for COVID-19, BP says
Oil and gas company BP confirmed Tuesday that a worker at Prudhoe Bay has tested positive for COVID-19.
Already low price for Alaska crude oil falls further as the world responds to coronavirus
The price of U.S. and global benchmarks are both below $40 per barrel. The COVID-19 pandemic is driving some of the recent decline, but prices were low even before the outbreak.
Oil companies are screening employees for fever before flying them up to Alaska’s North Slope
The companies met last week and agreed to start screening all of their workers when they check in in Anchorage.
Hilcorp revived this declining North Slope oil field. Can it do the same for Prudhoe Bay?
While many North Slope fields are on the decline, production at Hilcorp’s Milne Point has actually increased by huge amounts. Now the company is acquiring the massive Prudhoe Bay field, raising hopes of a similar revival there.