Bloomberg News

Alaska Oil November Production Falls 2.6% From Year-Ago Period

December 01, 2011

(Click on Bloomberg Map to locate the Trans Alaska Pipeline.)

Dec. 1 (Bloomberg) -- Alaskan crude-oil production fell 2.6 percent in November from a year earlier, according to the Alaska Tax Division.

Production in November averaged 624,687 barrels a day, a decrease from 641,463 a year earlier and an increase from 598,929 in the previous month.

Alaska production has declined every year since 2002, U.S. Energy Department figures show, as falling output from existing wells hasn’t been matched by new additions. The bulk of the state’s oil is produced in the Prudhoe Bay area.

Oil inventories in the state averaged 3.56 million barrels for the month, ranging from 1.84 million on Nov. 12 to 5.21 million on Nov. 18.

Alaskan oil is shipped along the 800-mile (1,290-kilometer) Trans Alaska pipeline from Prudhoe Bay on the North Slope to Valdez, the northernmost ice-free port in the U.S.

--Editors: Richard Stubbe, Bill Banker

To contact the reporter on this story: Gene Laverty in Calgary at glaverty@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net


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