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  • knok_onn_wood knok_onn_wood Mar 1, 2012 6:27 PM Flag

    Reuters: Alaskan Oil Production on the Decline

    Alaska Oil Production in February Drops 5.5% From a Year Earlier

    By Lynn Doan - Mar 1, 2012 3:51 PM MT

    Alaskan crude-oil production dropped 5.5 percent in February from a year earlier as the yield from wells in the Alaskan North Slope shrinks with little new output to replace it.

    Production in February averaged 609,216 barrels a day, a decrease from 644,767 a year earlier and from 624,058 in the previous month, according to a posting on the Alaska Tax Division’s website. Output peaked for the month at 626,002 barrels Feb. 2 and touched a low of 564,699 barrels yesterday.

    Alaska production has declined annually since 2002, U.S. Energy Department figures show. February output has dropped for four straight years, from an average of 750,034 barrels in 2009, according to the state tax division.

    “There’s no operations reason for it,” said Michelle Egan, spokeswoman for Alyeska Pipeline Service Co., operator of the 800-mile (1,287-kilometer) Trans Alaska crude line running from Prudhoe Bay on the North Slope to Valdez. “This is strictly because of the ongoing decline in production.”

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