Friday’s Fast Five

Headlamp wants our followers to always be up to date with the developments in Alaska’s economy, politics, and industry. Check out this week’s rundown of the stories affecting you.

Top Story of the Week

This week, Gov. Walker’s oil and gas tax credit legislation made its way through a series of committees and accrued various amendments and rewrites. The most recent bill version, via the House Finance Committee, would phase out a tax break for oil produced from newer North Slope fields and tax oil produced from Cook Inlet.

Top Reads of the Week

AK LNG field season to include offshore work
Peninsula Clarion, Elizabeth Earl, April 7, 2016
More geophysical and technical work will take place in Nikiski this summer as preparation for the Alaska LNG Project.

Two Alaska oil field support companies announce layoffs
Alaska Dispatch News, Alex DeMarban, April 4, 2016
Job losses continue to mount in the Alaska oil patch, with Parker Drilling and CH2M Hill recently informing the state, in separate announcements, of large cutbacks to their workforces on the North Slope.

Groundbreaking fracking effort, plus first new oil production in years, on tap in Cook Inlet
Alaska Dispatch News, Alex DeMarban April 2, 2016
BlueCrest Energy expects to begin producing oil from Cook Inlet in the coming weeks, marking the first time in more than a decade that oil has flowed from a new field in the basin.

Quote of the Week

“Huge” is the one word Kara Moriarty, President of the Alaska Oil and Gas Association used to describe the changes made by the House Finance Committee to HB 247.