A drill rig will likely be starting work again later this year near Anchor Point. BlueCrest Energy Inc. plans to begin drilling later this year at the offshore Cosmopolitan oil and gas discovery in Cook Inlet, company officials say.
ANCHORAGE, Alaska - The City of Seward is ready to jumpstart development that has been decades in the making. When Gov. Sean Parnell signed the fiscal year 2015 capital budget May 28, Seward was officially awarded $5.
Buccaneer Energy, an independent Cook Inlet explorer with high hopes but skimpy resources, saw those hopes come crashing down May 31. The company filed for Chapter 11 bankruptcy protection that day in a U.S. Bankruptcy Court in south Texas.
Construction projects are a hallmark of the summer months in Fairbanks, with workers on new buildings and road projects around the city. But this summer will see the beginning of some different construction.
The U.S. Army Corps of Engineers has more leeway to develop and maintain marine infrastructure in Alaska under the latest version of legislation that governs the Corps' authority.
Buccaneer Energy, an Australia-based independent company exploring for oil and gas in Cook Inlet, has suspended its CEO Curtis Burton and asked that trading of its shares on the Australian stock exchange be suspended while a restructuring of the company's finances is accomplished. The events appear connected with a series of problems Buccaneer has encountered with its Cook Inlet program that were complicated when a major investor failed to provide money that had been promised last year.
Minority Democrats in the Legislature unveiled their vision of an oil tax system should voters this summer roll back the tax structure lawmakers approved last year.
The impending closure of the Flint Hills Resources North Pole refinery could cut $11 million in annual revenue to the Alaska Railroad, adding to the "unholy trinity" of challenges facing the state railroad, its president and CEO Bill O'Leary said.
JUNEAU - Mining is good for Alaska's economy, but while the state's six producing mines are holding up well, and some even expanding, a sharp 38 percent drop in exploration spending last year is having ripple effects.
Ketchikan's shipyard has widespread support throughout the state. It will need it to acquire $3 million from the Legislature this session.
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