Bloomberg News

Alaska North Slope Output Rises as Prudhoe Bay Ramps Up

November 01, 2012

Alaska North Slope oil production increased 11 percent in October from a month earlier as fields in Prudhoe Bay ramped up production.

Output averaged 571,269 barrels a day in October, up from 516,296 in September, the state’s tax division said on its website today.

“This was part of the normal ramp-up following the planned summer maintenance season,” Dawn Patience, a spokeswoman for BP Plc (BP/) spokeswoman based in Anchorage, said in an e-mail today. “The current production levels are normal.”

October output in the North Slope was down 2.9 percent from the year-earlier period. Production in the area has declined almost every year since 1988 as flows from existing wells shrink and aren’t replaced by new ones.

Prudhoe Bay, where companies including BP and ConocoPhillips (COP:US) operate fields, accounted for 58 percent of total North Slope production, up from 53 percent in the previous month. Operators in Prudhoe increased output to 328,630 barrels a day from 271,444 in September.

Five BP (BP:US) sites, including three at Prudhoe Bay, completed turnarounds over the summer, Patience said.

Alaska North Slope crude was priced at $103.83 a barrel today, $16.74 above the U.S. benchmark West Texas Intermediate, according to data compiled by Bloomberg.

To contact the reporter on this story: Christine Harvey in New York at charvey32@bloomberg.net

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


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Companies Mentioned

  • COP
    (ConocoPhillips)
    • $70.98 USD
    • 1.23
    • 1.73%
  • BP
    (BP PLC)
    • $39.4 USD
    • 1.08
    • 2.74%
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