Black gold: the goal of every Alaska exploration company: developers are searching cook inlet, the north slope and other areas for new developments, and some are succeeding.There are new players in Alaska's oil patch oil patch
1. The petroleum and natural gas industry.
2. An oil-producing region. and hopes are that these aggressive new explorers can find enough new oil to stem the decline in Alaska Alaska (əlă`skə), largest in area of the United States but third smallest (exceeding only Vermont and Wyoming) in population, occupying the northwest extremity of the North American continent, separated from the coterminous United States oil production.
The new companies are in all shapes and sizes. At one end of the spectrum are true, old-fashioned old-fash·ioned
1. Of a style or method formerly in vogue; outdated.
2. Attached to or favoring methods, ideas, or customs of an earlier time: old-fashioned parents.
n. wildcatters-individual investors working with small teams of professionals who usually own a piece of the action themselves.
Winstar Petroleum and its affiliate company, UltraStar, are now exploring on the North Slope North Slope, Alaska: see Alaska North Slope. , and Prodigy An online information service that provides access to the Internet, e-mail and a variety of databases. Launched in 1988, Prodigy was the first consumer-oriented online service in the U.S. Oil and Gas Alaska, working in Cook Inlet Cook Inlet
Inlet, Gulf of Alaska in the northern Pacific Ocean. Bounded by the Kenai Peninsula on the east, it extends northeast for 220 mi (350 km), narrowing from 80 to 9 mi (129 to 14 km). Anchorage is situated near its head. , fit this category.
Armstrong Oil and Gas, based in Denver Denver, city (1990 pop. 467,610), alt. 5,280 ft (1,609 m), state capital, coextensive with Denver co., N central Colo., on a plateau at the foot of the Front Range of the Rocky Mts., along the South Platte River where Cherry Creek meets it; inc. 1861. , is a few steps out of the wildcatter wild·cat·ter
1. One who is engaged in speculative mining or well drilling in areas not known to be productive.
2. A promoter of speculative or fraudulent business enterprises.
3. class, but is still small, quick to move and entrepreneurial en·tre·pre·neur
A person who organizes, operates, and assumes the risk for a business venture.
[French, from Old French, from entreprendre, to undertake; see enterprise. . Armstrong is active on the North Slope.
At the other end of the spectrum are the large major independent companies, independent only in the sense that, unlike the large major oil companies, they are "upstream From the consumer to the provider. See downstream.
(networking) upstream - Fewer network hops away from a backbone or hub. For example, a small ISP that connects to the Internet through a larger ISP that has their own connection to the backbone is downstream from the larger " oil and gas exploration and production companies. They are not integrated downstream From the provider to the customer. Downloading files and Web pages from the Internet is the downstream side. The upstream is from the customer to the provider (requesting a Web page, sending e-mail, etc.). with their own "downstream" refining refining, any of various processes for separating impurities from crude or semifinished materials. It includes the finer processes of metallurgy, the fractional distillation of petroleum into its commercial products, and the purifying of cane, beet, and maple sugar and marketing outlets.
Anadarko Petroleum Corp., Encana Oil and Gas Inc., Forest Oil Corp. and Pioneer Natural Resources Corp. are four of these major independents active in Alaska. Each are companies of significant size and financial resources.
Anadarko, Encana and Pioneer are active on the Slope, while Forest's projects are in Cook Inlet and Southcentral Alaska.
One large major company is one of Alaska's new explorers, TOTAL, the Paris-based multinational. TOTAL is the fifth-largest private oil and gas company in the world, and plans its first exploration well in Alaska this winter, in the National Petroleum Reserve-Alaska on the North Slope.
The new explorers include some medium-sized Me´di`um-sized`
a. 1. Having a medium size; as, a medium-sized man s>.
Adj. 1. medium-sized - intermediate in size
medium-size, moderate-size, moderate-sized and small companies that are focused on producing and finding new oil and gas reserves in already-producing fields, like XTO Energy XTO Energy (NYSE: XTO) is an American Fortune 500 and S&P 500 energy producing company. Its primary products are oil and natural gas. It is based in Ft. Worth, Texas and its current CEO is Bob R. Simpson.
The company was founded in 1986. , and smaller companies engaged in developing resources that were discovered years ago but not developed. Aurora Aurora, cities, United States
Aurora (ərôr`ə, ô–).
1 City (1990 pop. 222,103), Adams and Arapahoe counties, N central Colo., a growing suburb on the east side of Denver; inc. 1903. Gas and Northstar Energy, working in Southcentral Alaska, fit this category.
There are others, of course. Andex Resources, a small Denver-based independent, is exploring for natural gas in the Nenana Nenana may refer to:
This isn't is·n't
Contraction of is not.
isn't is not
isn't be to say, of course, that the long-established major companies who have dominated Alaska's industry for many years aren't aren't
Contraction of are not. See Usage Note at ain't.
aren't are not
aren't be also working to develop new resources.
BP Exploration (Alaska) Inc., the state's largest operating company operating company
A business that engages in transactions with outsiders. , is aggressively working on development of small satellite deposits near the big fields on the Slope-as well as viscous viscous /vis·cous/ (vis´kus) sticky or gummy; having a high degree of viscosity.
1. Having relatively high resistance to flow.
2. Viscid. , or heavy oil. So is ConocoPhillips ConocoPhillips (NYSE: COP) is an international energy corporation with its headquarters located in Houston, Texas. It was created through the merger of Conoco Inc. and the Phillips Petroleum Company on August 30, 2002. Alaska Inc., which took over ARCO ar·co
adv. & adj. Music
With a bow. Used chiefly as a direction to indicate the resumption of bowing after a pizzicato passage.
Adj. 1. Alaska's properties in the state. Unlike BP, ConocoPhillips also is continuing to drill true exploration wells.
Exxon Mobil Corp., which owns a major part of the producing fields on the Slope, is working hard to develop a major gas condensate condensate, matter in the form of a gas of atoms, molecules, or elementary particles that have been so chilled that their motion is virtually halted and as a consequence they lose their separate identities and merge into a single entity. project at Point Thomson, east of the existing oil fields This list of oil fields includes major fields of the past and present. The list is incomplete; there are more than 40,000 oil and gas fields of all sizes in the world. on the Slope.
MORE OIL PLEASE
If the industry is to find enough new oil to replace the declining production in Alaska's existing large oil fields, however, the challenge is daunting daunt
tr.v. daunt·ed, daunt·ing, daunts
To abate the courage of; discourage. See Synonyms at dismay.
[Middle English daunten, from Old French danter, from Latin .
In the last 13 years, Alaska oil production has dropped by half, from a peak of just more than 2 million barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. in 1989 to about 1 million barrels today.
The existing oil fields are declining at about 5 percent per year. The decline of the core producing areas of the large fields is actually higher-Prudhoe Bay is about 8 percent. It is the success of the major companies in developing small satellite pools that is slowing the rate of decline.
The state of Alaska's official oil production forecast assumes there will be continued new discoveries of small-to-medium-sized fields to replace the oil produced from the larger fields that are declining.
Mark Myers Mark Myers is an American geologist. Myers became the fourteenth Director of the US Geological Survey (USGS) on 26 September 2006 after confirmation by the US Senate. , director of the state Division of Oil and Gas, hopes that there is enough exploration effort to make those discoveries. With the attention of the existing major producer companies, mainly focused on new, emerging oil-producing regions like Russia Russia, officially the Russian Federation, Rus. Rossiya, republic (2005 est. pop. 143,420,000), 6,591,100 sq mi (17,070,949 sq km). , Alaska must now depend on the independents, the new explorers to fill the exploration gap, Myers Myers can refer to: People
The independent explorers are doing a good job, but Myers worries that there may not be enough of them. Alaska must work to attract more of these companies, he says.
A MIXED BAG
It is not surprising that the new exploration efforts by the independents result in a mix of successes and disappointments. One possible success could be Pioneer Natural Resources' discovery of oil in test wells drilled last winter. Pioneer, with Armstrong Oil and Gas as a minority partner, drilled three wells in shallow waters See:
The oil was deeper and in different rocks from where Pioneer and Armstrong had expected it, but it still might be a commercial discovery. The companies are still analyzing the drilling results.
Armstrong, meanwhile, has found another prospect west of where it and Pioneer drilled last winter and plans more drilling this winter, either by itself or with a partner.
The Armstrong-Pioneer venture is typical of the kind of initiatives these independents will undertake. Armstrong is an aggressive, entrepreneurial company that likes to look for prospects other larger companies either overlooked or felt were too small.
A company like Armstrong finds the prospects and raises funds to drill, sometimes by bringing in a larger company like Pioneer, who took over management of the project.
A BITTERSWEET bittersweet, name for two unrelated plants, belonging to different families, both fall-fruiting woody vines sometimes cultivated for their decorative scarlet berries. END
Sometimes a wildcatter will drill itself, as did Winstar Petroleum, a company formed by an investment group headed by Alaskans John Winther of Petersburg Petersburg, city (1990 pop. 38,386), politically independent and in no county, SE Va., on the Appomattox River; inc. 1850. A port of entry and an important tobacco market, it has industries producing chemicals, pharmaceuticals, furniture, structural steel, lumber, and Dale Lindsey Dale Lindsey was terminated as the linebackers coach for the Washington Redskins on January 16, 2007. This was his second stint with Washington. He was one of several former NFL coordinators serving as a position coach on the Redskins' coach staff. of Seward Seward, city (1990 pop. 2,699), Kenai Peninsula borough, S Alaska, on Kenai Peninsula, at the head of Resurrection Bay; inc. 1912. It was founded in 1902 as the ocean terminus of the Alaska RR (built 1915–23). and managed by Jim Weeks Detective Jim Weeks is a fictional character from the Canadian television show Blue Murder.
Detective Jimmy Weeks is hip and young, with a casual style and a speech pattern all his own. , a retired ARCO Alaska senior manager.
Winstar found a prospect it thought had been overlooked at the edge of the giant Kuparuk River The Kuparak River is a river in Alaska's North Slope. References
1. ^ USGS Geographic Names Information System (GNIS). Kuparak River. Accessed Aug 20, 2007.
It turned out dry, unfortunately. Winstar isn't giving up, Weeks says. Other prospects are now being examined.
Encana Oil and Gas, U.S. subsidiary of Encana, a large Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. independent, also had a disappointment last year with its McCovey well, another offshore prospect. The target looked very inviting not only to Encana but also ConocoPhillips, its partner.
Encana isn't giving up on the Beaufort Sea Beaufort Sea (bō`fərt), part of the Arctic Ocean, N of Alaska and Canada, between Point Barrow, Alaska, and the Canadian Arctic Archipelago. The Mackenzie River flows into the sea, which is always covered with pack ice. . The company has identified another attractive prospect in federal-owned waters offshore of the NPR-A. Leases there were acquired in a U.S. Minerals Management Service lease sale held last fall.
Though its McCovey well was dry, Encana did demonstrate that independent companies also are known for their innovation and thinking "outside the box."
ConocoPhillips had tried to get permits for McCovey using a plan to build an artificial ice island, a conventional approach for shallow offshore drilling Offshore drilling typically refers to the act of extracting resources, primarily oil, in an ocean or lake. Controversy
As with all oil drilling, there has been a certain level of controversy surrounding the issue. . The plan didn't did·n't
Contraction of did not.
didn't did not
didn't do work because the ice island couldn't could·n't
Contraction of could not.
couldn't could not be built early enough in the winter to allow the well to be drilled and the rig moved off the ice enough in advance of the spring thaw to clean up a major oil spill oil spill: see water pollution. , should one occur. It is a state requirement that couldn't be met, so the project was delayed.
Encana took over as manager and in the following year developed a plan to drill McCovey using a mobile steel-drilling platform that was being stored near Nome. Encana's proposal met all permit requirements and allowed drilling to start earlier.
Anadarko Petroleum Corp. and Forest Oil Corp., two other major independents, also devised creative solutions to challenges that had thwarted thwart
tr.v. thwart·ed, thwart·ing, thwarts
1. To prevent the occurrence, realization, or attainment of: They thwarted her plans.
2. larger companies.
Forest built a mobile offshore platform that could drill exploration wells and become a production platform if the drilling was successful. It was used to explore Redoubt re·doubt
1. A small, often temporary defensive fortification.
2. A reinforcing earthwork or breastwork within a permanent rampart.
3. A protected place of refuge or defense. Shoal, a Cook Inlet oil prospect the large companies had dismissed dis·miss
tr.v. dis·missed, dis·miss·ing, dis·miss·es
1. To end the employment or service of; discharge.
Forest was able to avoid some of the huge front-end front-end
1. Of or relating to the initial phase of a project: a front-end investment.
2. Of or relating to the forward parts of a vehicle: a front-end alignment. costs of exploring the inlet inlet /in·let/ (-let) a means or route of entrance.
pelvic inlet the upper limit of the pelvic cavity.
thoracic inlet the elliptical opening at the summit of the thorax. with a floating "jack-up" exploration rig and then building a separate production platform.
Anadarko has developed an "Arctic Arctic
area of constant cold. [Geography: WB, A:600]
See : Coldness
(language, music) Arctic - A real-time functional language, used for music synthesis.
["Arctic: A Functional Language for Real-Time Control", R.B. platform," a steel platform built on land to support exploration drilling and even production. The system is designed for foothills of the North Slope where steep slopes and remote locations will make exploration drilling with conventional ice pads difficult, if not impossible.
One feature of the small independents is that professional teams of former employees of the large companies lead several companies.
Jim Weeks, formerly with ARCO, leads Winstar. Stu Gustafson A derivative of the name Gustav, Gustafson, Gustafsson, Gustavson, and/or Gustavsson, is a group of fairly common surnames of Swedish origin, and may refer to any of the following people: Gustafson
Several former ARCO managers helped form Prodigy Oil and Gas to tackle the former Sunfish sunfish, common name for members of the family Centrachidae, comprising numerous species of spiny-finned, freshwater fishes with deep, laterally flattened bodies found in temperate North America. oil prospect in Cook Inlet that ARCO worked on aggressively in the 1980s and then dropped.
Mark Landt, Prodigy's vice president for land and new business, and several others on Prodigy's team, worked on Sunfish while they were at ARCO, and they are convinced their former employer made the wrong choice in not doing more exploration.
Prodigy, now based in Irving, Texas Irving (pronounced 'er-ving') is a city located in the U.S. state of Texas within Dallas County. According to the 2000 U.S. Census, the city population was 191,615; the 2006 estimate was 201,927 according to the North Central Texas Council of Governments, and 196,084 according to , is backed by Shawn Shawn , Ted 1891-1972.
American dancer and choreographer noted for his partnership with Ruth Saint Denis. Together they founded the Denishawn Dance School (1915), for which he choreographed works based on Native American themes. Bartholomae, a major investor. Landt and his colleagues are looking for Looking for
In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. partners to bring a jack-up rig to the inlet to drill exploration wells. The prospect has been renamed "Northern Lights."
THE PUSH FORWARD
Another common theme among the independents is that most are exploring and developing prospects, like in Sunfish and Redoubt Shoal, that were discovered in earlier exploration but not explored further. Using new technology, Forest Oil determined that the resources of Redoubt Shoal are larger than earlier thought, and Prodigy hopes to do the same at its Northern Lights prospect.
Aurora Gas LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control is another example of a small company that has defined a business strategy of successfully reworking old Cook Inlet discoveries. Aurora and its sister-company, Aurora Energy, a company that buys and sells gas in Southcentral Alaska, were started by former Marathon Oil Marathon Oil Corporation NYSE: MRO, based in Houston, Texas, is a worldwide oil and natural gas exploration and production company. Principal exploration activities are in the United States, Norway, Equatorial Guinea, Angola and Canada. Co. managers.
Aurora's niche is to look for exploration wells drilled in the 1960s and 1970s for oil where gas was encountered but not developed because there was no market then, according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. Scott Pfoff, its president.
There is a market now because Southcentral Alaska's big gas fields are running down. Aurora has redeveloped old wells at Nicholai Creek, a small gas field on the west side of Cook Inlet, and earlier this year purchased and brought on line Lone Creek No. 1, a gas discovery made by Anadarko Petroleum and ARCO Alaska, but not developed.
New wells have been drilled in both projects. "We're we're
Contraction of we are.
we're we are very happy with the results," Pfoff said.
The company is now producing gas from both projects, selling the gas to Enstar Natural Gas Co., and more work is being planned, Pfoff says.
Pelican Hills, another small independent, is also planning to drill for gas this winter on the west side of Cook Inlet. The small California-based firm has an agreement with Trading Bay Oil and Gas, an Alaska company, to drill on a prospect on leases held by Trading Bay near the Beluga beluga (bəl`gə) or white whale, small, toothed northern whale, Delphinapterus leucas. The beluga may reach a length of 19 ft (5. gas field.
Exploration for gas is also brisk Brisk as a proper name may refer to:
Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , is developing the small North Fork North Fork, river, c.100 mi (160 km) long, rising in the Ozarks, S Mo., and flowing S, into N Ark., to the White River. Near its mouth is Norfolk Dam (completed 1944), which impounds Norfolk Lake and has a power plant. gas field, once again where a well drilled for oil years ago found shows of gas.
The company recently signed an agreement with Enstar to build a pipeline and supply gas to Homer Homer, principal figure of ancient Greek literature; the first European poet. Works, Life, and Legends
Two epic poems are attributed to Homer, the Iliad and the Odyssey. . NorthStar also will build a line to connect with the new Kenai-Kachemak gas pipeline completed last summer by Enstar for Marathon Oil and Unocal Corp. That pipeline connects new gas discoveries those companies made near Ninilchik to existing pipelines near Kenai Kenai may refer to:
Exploration in Cook Inlet isn't entirely being left to the small companies, however. Unocal and Marathon Marathon (mâr`əthŏn), village and plain, ancient Greece, 20 mi (32 km) NE of Athens. Here the Athenians and Plataeans under Miltiades defeated a Persian army in 490 B.C. (see Persian Wars). also are busy with new exploration plans on the inlet's east side. Unocal has made an apparent commercial gas discovery in other exploration wells drilled south of Ninilchik, and Marathon is drilling to find gas this winter near Kasilof.
EXPLORATION IN NEW AREAS
Not all the small independents are working with already-discovered prospects, either. Two of them, Andex Resources and Clearflame, are working in areas like the Nenana and Susitna Susitna may refer to any of:
What makes Alaska attractive to companies like these is that the state is one of the few places remaining in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. where small companies can afford to explore with possibilities of making gas discoveries of 1 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time.
(mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed.
In the USA and Canada, 10^12. cubic feet or more, according to Jim According to Jim is an American situation comedy television series originally broadcast by ABC. The show premiered with little publicity in October 2001, following the surprise hit comedy My Wife and Kids. Dodson Dodson may refer to: Places
Other places with potential in North America, like the deepwater Deepwater or Deep Water may refer to:
Golfo de Mexico
Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east or the Atlantic offshore, are too expensive for small companies, he says.
ALASKA TRENDS FOR DECEMBER Indicator Units Period GENERAL Personal Income -- Alaska Millions of $ 2ndQ03 Personal Income -- United Billions of $ (SAAR) 2ndQ03 States Consumer Prices -- Anchorage 1982-1984 = 100 1H03 Consumer Prices -- United 1982-1984 = 100 1H03 States Bankruptcies Alaska Total Number Filed August Alaska Business Only Number Filed August Anchorage Total Number Filed August Anchorage Business Only Number Filed August Fairbanks Total Number Filed August Fairbanks Business Only Number Filed August EMPLOYMENT Alaska Thousands September Anchorage Thousands September Fairbanks Thousands September Southeast Thousands September Gulf Coast Thousands September Sectoral Distribution -- Alaska Total Nonfarm Wage & Salary Thousands July Goods-Producing Thousands July Service-Providing Thousands July Natural Resources & Mining Thousands July Logging Thousands July Mining Thousands July Oil & Gas Extraction Thousands July Construction Thousands July Manufacturing Thousands July Wood Products Thousands July Manufacturing Seafood Processing Thousands July Trade/Transportation/ Thousands July Utilities Wholesale Trade Thousands July Retail Trade Thousands July Food & Beverage Stores Thousands July General Merchandise Thousands July Stores Trans/Warehouse/Utilities Thousands July Air Transportation Thousands July Truck Transportation Thousands July Information Thousands July Telecommunications Thousands July Financial Activities Thousands July Professional & Business Svcs Thousands July Educational & Health Thousands July Services Health Care/Social Thousands July Assistance Ambulatory Health Care Thousands July Hospitals Thousands July Leisure & Hospitality Thousands July Accommodation Thousands July Food Svcs & Drinking Thousands July Places Other Services Thousands July Government Thousands July Federal Government Thousands July State Government Thousands July Local Government Thousands July Tribal Government Thousands July Labor Force Alaska Thousands September Anchorage Thousands September Fairbanks Thousands September Southeast Thousands September Gulf Coast Thousands September Unemployment Rate Alaska Percent September Anchorage Percent September Fairbanks Percent September Southeast Percent September Gulf Coast Percent September United States Percent September PETROLEUM/MINING Crude Oil Production -- Alaska Millions of Barrels July Natural Gas Field Production Billions of Cubic Ft. July -- Alaska North Slope Spot Price (Gulf) $ per Barrel 10/29/2003 Hughes Rig Count Alaska Active Rigs August United States Active Rigs August Gold Prices $ Per Troy Oz. 10/31/2003 Silver Prices $ Per Troy Oz. 10/31/2003 Zinc Prices Per Pound 10/31/2003 REAL ESTATE Anchorage Building Permit Valuations Total Millions of $ September Residential Millions of $ September Commercial Millions of $ September Deeds of Trust Recorded Anchorage--Recording Total Deeds July District Fairbanks--Recording Total Deeds May District Palmer--Recording District Total Deeds July Juneau--Recording District Total Deeds April AHFC Delinquent Loan Rate Percent May VISITOR INDUSTRY Total Air Passenger Traffic -- Thousands July Anchorage Total Air Passenger Traffic -- Thousands July Fairbanks ALASKA PERMANENT FUND Equity Millions of $ September Assets Millions of $ September Net Income Millions of $ September Net Income -- Year to Date Millions of $ September Marketable Debt Securities Millions of $ September Real Estate Investments Millions of $ September Preferred and Common Stock Millions of $ September TRANSPORTATION Total Port Activity -- Thousands of Tons July Anchorage General Cargo Thousands of Tons July Petroleum Thousands of Tons July Rail Freight -- Alaska Thousands of Tons May Railroad BANKING (excludes interstate branches) Total Bank Assets -- Alaska Millions of $ 2ndQ03 Cash & Balances Due Millions of $ 2ndQ03 Securities Millions of $ 2ndQ03 Net Loans and Leases Millions of $ 2ndQ03 Other Real Estate Owned Millions of $ 2ndQ03 Total Liabilities Millions of $ 2ndQ03 Total Bank Deposits -- Millions of $ 2ndQ03 Alaska Noninterest-bearing deposits Millions of $ 2ndQ03 Interest- bearing deposits Millions of $ 2ndQ03 FOREIGN TRADE Value of the Dollar In Japanese Yen Yen 10/31/2003 In Canadian Dollars Canadian $ 10/31/2003 In German Marks Marks 10/31/2003 In European Monetary Union Euro 10/31/2003 Previous Latest Report Report Period Indicator Period (revised) GENERAL Personal Income -- Alaska 21,120.00 20,912.00 Personal Income -- United 9,129,313.00 9,053,499.00 States Consumer Prices -- Anchorage 161.1 159.0 Consumer Prices -- United 183.3 180.9 States Bankruptcies Alaska Total 110 130 Alaska Business Only 7 9 Anchorage Total 78 103 Anchorage Business Only 6 7 Fairbanks Total 20 14 Fairbanks Business Only 0 1 EMPLOYMENT Alaska 324.093 328.458 Anchorage 147.081 147.467 Fairbanks 44.37 44.906 Southeast 38.021 40.101 Gulf Coast 31.491 34.186 Sectoral Distribution -- Alaska Total Nonfarm Wage & Salary 319.5 311.2 Goods-Producing 47.8 40.5 Service-Providing 271.7 270.7 Natural Resources & Mining 10.3 10.3 Logging 0.8 0.6 Mining 10.1 9.9 Oil & Gas Extraction 8 8 Construction 19.6 18.8 Manufacturing 17.9 11.4 Wood Products 0.4 0.3 Manufacturing Seafood Processing 13.7 7.4 Trade/Transportation/ 65 64 Utilities Wholesale Trade 6.5 6.2 Retail Trade 35.9 35.5 Food & Beverage Stores 6.2 6.1 General Merchandise 9.3 9 Stores Trans/Warehouse/Utilities 22.5 22.3 Air Transportation 6.8 6.8 Truck Transportation 3.1 3 Information 7.3 7 Telecommunications 4.3 4 Financial Activities 14.4 14.1 Professional & Business Svcs 25.4 24.6 Educational & Health 32.2 32.3 Services Health Care/Social 30.1 30.1 Assistance Ambulatory Health Care 13.1 13.2 Hospitals 7.8 7.8 Leisure & Hospitality 35.7 34.9 Accommodation 10.6 9.8 Food Svcs & Drinking 20.5 20.3 Places Other Services 13 12.5 Government 78.7 81.3 Federal Government 17.7 17.5 State Government 23.4 24.1 Local Government 37.7 39.7 Tribal Government 3.7 3.5 Labor Force Alaska 347.806 352.15 Anchorage 155.185 155.466 Fairbanks 47.035 47.56 Southeast 40.589 42.72 Gulf Coast 34.718 37.324 Unemployment Rate Alaska 6.8 6.7 Anchorage 5.2 5.1 Fairbanks 5.7 5.6 Southeast 6.3 6.1 Gulf Coast 9.3 8.4 United States 6.1 6.1 PETROLEUM/MINING Crude Oil Production -- Alaska 28.722 29.731 Natural Gas Field Production 15.181 14.446 -- Alaska North Slope Spot Price (Gulf) 27.16 27.15 Hughes Rig Count Alaska 6 8 United States 1102 1515 Gold Prices 384.1 384.3 Silver Prices 5.05 5.09 Zinc Prices 0.4207 0.3772 REAL ESTATE Anchorage Building Permit Valuations Total 64.923 41.199 Residential 32.79 25.577 Commercial 12.354 12.72 Deeds of Trust Recorded Anchorage--Recording 2669 2532 District Fairbanks--Recording 549 599 District Palmer--Recording District 732 758 Juneau--Recording District 344 216 AHFC Delinquent Loan Rate 4.04 3.95 VISITOR INDUSTRY Total Air Passenger Traffic -- 638.269 534.802 Anchorage Total Air Passenger Traffic -- 110.437 97.676 Fairbanks ALASKA PERMANENT FUND Equity 25,042.10 24,741.60 Assets 26,205.90 25,730.30 Net Income 139.6 113.1 Net Income -- Year to Date 275.5 394.6 Marketable Debt Securities 8704.20 8,452.50 Real Estate Investments 2,129.40 2,118.70 Preferred and Common Stock 13,514.30 13,495.80 TRANSPORTATION Total Port Activity -- 295.166 317.048 Anchorage General Cargo 186.327 203.661 Petroleum 108.839 113.387 Rail Freight -- Alaska 1,066.00 547,325 Railroad BANKING (excludes interstate branches) Total Bank Assets -- Alaska 7,304.90 6,972.04 Cash & Balances Due 291.614 216.578 Securities 99.958 82.176 Net Loans and Leases 3,216.36 3,153.75 Other Real Estate Owned 5.76 5.32 Total Liabilities 5,964.89 5,635.36 Total Bank Deposits -- 5,308.40 4,998.39 Alaska Noninterest-bearing deposits 1,561.76 1,379.51 Interest- bearing deposits 3,746.63 3,618.89 FOREIGN TRADE Value of the Dollar In Japanese Yen 108.76 111.377 In Canadian Dollars 1.3197 1.3499 In German Marks 1.68286 1.67822 In European Monetary Union 0.86 0.858 Year Year Over Ago Year Indicator Period Change GENERAL Personal Income -- Alaska 20,273.00 4.18% Personal Income -- United 8,881,691.00 2.79% States Consumer Prices -- Anchorage 157.5 2.29% Consumer Prices -- United 178.9 2.46% States Bankruptcies Alaska Total 121 -9.09% Alaska Business Only 16 -56.25% Anchorage Total 88 -11.36% Anchorage Business Only 10 -40.00% Fairbanks Total 24 -16.67% Fairbanks Business Only 3 EMPLOYMENT Alaska 302.32 7.20% Anchorage 137.29 7.13% Fairbanks 42.12 5.33% Southeast 36.51 4.14% Gulf Coast 30.19 4.30% Sectoral Distribution -- Alaska Total Nonfarm Wage & Salary 317.10 0.76% Goods-Producing 48.90 -2.25% Service-Providing 268.20 1.30% Natural Resources & Mining 11.40 -9.65% Logging 0.70 14.29% Mining 10.70 -5.61% Oil & Gas Extraction 9.00 -11.11% Construction 19.10 2.62% Manufacturing 18.30 -2.19% Wood Products 0.40 0.00% Manufacturing Seafood Processing 14.10 -2.84% Trade/Transportation/ 65.80 -1.22% Utilities Wholesale Trade 7.00 -7.14% Retail Trade 35.80 0.28% Food & Beverage Stores 6.10 1.64% General Merchandise 9.60 -3.12% Stores Trans/Warehouse/Utilities 23.00 -2.17% Air Transportation 6.90 -1.45% Truck Transportation 3.00 3.33% Information 7.50 -2.67% Telecommunications 4.40 -2.27% Financial Activities 14.10 2.13% Professional & Business Svcs 24.80 2.42% Educational & Health 30.60 5.23% Services Health Care/Social 28.60 5.24% Assistance Ambulatory Health Care 12.20 7.38% Hospitals 7.60 2.63% Leisure & Hospitality 35.10 1.71% Accommodation 10.40 1.92% Food Svcs & Drinking 20.00 2.50% Places Other Services 12.70 2.36% Government 77.60 1.42% Federal Government 17.50 1.14% State Government 23.00 1.74% Local Government 37.10 1.62% Tribal Government 4.00 -7.50% Labor Force Alaska 325.27 6.93% Anchorage 145.009 7.02% Fairbanks 44.671 5.29% Southeast 38.991 4.10% Gulf Coast 33.623 3.26% Unemployment Rate Alaska 7.1 -4.23% Anchorage 5.3 -1.89% Fairbanks 5.7 0.00% Southeast 6.4 -1.56% Gulf Coast 10.2 -8.82% United States 5.7 7.02% PETROLEUM/MINING Crude Oil Production -- Alaska 29.00 -0.96% Natural Gas Field Production 16.00 -5.12% -- Alaska North Slope Spot Price (Gulf) 25.11 8.16% Hughes Rig Count Alaska 9 -33.33% United States 847 30.11 Gold Prices 317.74 20.89% Silver Prices 4.53 11.48% Zinc Prices 0.38 10.54% REAL ESTATE Anchorage Building Permit Valuations Total 64.00 1.44% Residential 44.00 -25.48% Commercial 20.00 -38.23% Deeds of Trust Recorded Anchorage--Recording 1383 92.99% District Fairbanks--Recording 312 75.96% District Palmer--Recording District 568 28.87% Juneau--Recording District 206 66.99% AHFC Delinquent Loan Rate 3.51 15.10% VISITOR INDUSTRY Total Air Passenger Traffic -- 657.30 -2.90% Anchorage Total Air Passenger Traffic -- 108.80 1.51% Fairbanks ALASKA PERMANENT FUND Equity 21,818.4 14.78% Assets 21,992.0 19.16% Net Income 69.5 100.86% Net Income -- Year to Date -982.9 -128.03% Marketable Debt Securities 8,950.4 -2.75% Real Estate Investments 20,949.0 1.65% Preferred and Common Stock 9,944.1 35.90% TRANSPORTATION Total Port Activity -- 396.89 -25.63% Anchorage General Cargo 188.92 -1.37% Petroleum 207.97 -47.67% Rail Freight -- Alaska 901 18.25% Railroad BANKING (excludes interstate branches) Total Bank Assets -- Alaska 6,700.40 9.02% Cash & Balances Due 266.00 9.63% Securities 98.00 2.00% Net Loans and Leases 3.22 -0.26% Other Real Estate Owned 4.75 21.26% Total Liabilities 5,365.27 11.18% Total Bank Deposits -- 4,655.96 14.01% Alaska Noninterest-bearing deposits 1,342.65 16.32% Interest- bearing deposits 3,313.31 13.08% FOREIGN TRADE Value of the Dollar In Japanese Yen 122.50 -11.22% In Canadian Dollars 1.56 -15.40% In German Marks 2.14 -21.36% In European Monetary Union 0.988103 -12.92% Data compiled by University of Alaska Center for Economic Development.