US—revival in the north
Drilling in Alaska is pricey compared with tight oil in the Lower 48. But the potential remains huge
At one point in the 1970s Alaska was home to some of the largest oilfields ever found in the world. The rise of lower cost tight oil in the Lower 48 may have eclipsed the North Slope—but, at the right price, much riches lie in wait. Still, the recent history has been about decline. Alaskan exploration in recent decades has dropped off and production of around 490,000 barrels a day is now barely a quarter of that heyday high. The major players—ConocoPhillips, BP and ExxonMobil—seemed content to milk their white elephants and skim the cash. That could change with some compelling new discoveries that have altered the landscape. In early 2016, Denver-based Armstrong Energy made a major strike at
Also in this section
29 January 2026
Caught between LNG risks from across the Atlantic and the wounds from Russian gas dependence, Europe needs more than a simple diversification strategy
28 January 2026
The alliance looks to bolster market management credibility by bringing greater clarity and unity to output cuts and producer capacity later in 2026
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
