North Slope - Alaska

  • US Geological Service (USGS) estimates that Alaska's North Slope has more oil than any other Arctic nation:

    • Oil: Estimated 40 billion barrels of conventional oil (USGS & BOEMRE)
    • Gas: Estimates over 200 trillion cubic feet of conventional natural gas (USGS)

  • Alaska has world-class unconventional resources, including tens of billions of barrels of heavy oil, shale oil, and viscous oil, and hundreds of trillions of cubic feet of shale gas, tight gas, and gas hydrates.
Compared to most hydrocarbon basins, Alaska is relatively underexplored, with 500 exploration wells on the North Slope, compared to Wyoming’s 19,000!1

1. Alaskan Oil and Gas Conservation Commission (AOGCC)

North Slope is Elephant Country

Infrastructure: Processing and Pipelines

Alaskan Rebate Program - Alaska Clear and Equitable Shares (ACES)

  • Implemented in 2007, ACES is a program by the Alaskan Government to stimulate exploration and development
  • One program goal is to stabilise and reverse the Trans-Alaska Pipeline System (TAPS) production decline. It is now operating at ~25% of its full capacity
  • To propel further production and investment, 45% of drilling costs and 65% of seismic costs are being rebated
  • Cash rebates - Not repayable
  • Not contingent on success
  • Reduces risk. Increases IRR