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Alaska officials revise oil production estimates
http://www.adn.com/2014/04/07/3414357/forecast-revises-oil-production.html?sp=/99/171/Alaska officials revise oil production estimates
By BECKY BOHRER
Associated Press
April 7, 2014
JUNEAU, Alaska — The state Revenue Department is forecasting higher oil production than previously expected, though the overall, long-term trend is still one of decline.
North Slope production for this year is now forecast at 521,800 barrels per day, up from the 508,200 barrels per day forecast in December, which Deputy Revenue Commissioner Bruce Tangeman called a "banner headline."
The spring forecast, released Monday, anticipates a dip to about 496,000 barrels per day in fiscal year 2015, which Tangeman said accounts for what is expected to be an active summer maintenance season in line with the projected new industry investments.
The forecast calls for increased North Slope oil production over what was forecast last fall from 2016 to 2023, though the overall trend would still be one of decline, with North Slope production of about 315,000 barrels per day by 2023.