We’ve heard that there are plenty of untapped oil and gas reserves in the Cook Inlet basin, but just two years ago there was a projected natural gas shortfall.
Paul Decker, Acting Director of the Division of Oil and Gas, said all it took was a little initiative…
Decker: “I would attribute that entirely to additional investment in developing the gas in existing fields, as well as exploring for gas that had not been discovered a few years ago.”
Younger, more aggressive companies have been taking the risk of investing in old wells and searching for new sources…
Decker: “Hilcorp’s acquisition of Marathon’s assets, as well as the Chevron and Unocal assets, all under one producing umbrella, one company, really contributed to efficiencies and a desire to make things happen.”
Hilcorp, BlueCrest, and Furie were celebrated at last week’s Industry Outlook Forum as the pioneers in a new age of Cook Inlet exploration.
