Alaskans Grappling With Dramatic Change In State Oil, Gas Industry Looming With BP Amoco-ARCO Deal

Click here to enlarge imageARCO discovered Alaska's first commercial oil field, at Swanson River. It was ARCO that, along with Exxon Corp., drilled the initial discovery well at Prudhoe Bay. And it was BP that confirmed the extent of the Prudhoe strike, the biggest field in North America. The two firms have shared operatorship of the Prudhoe Bay Unit (PBU), each operating half of the unit. And the two have been responsible for discovering and developing the vast majority of the oil and gas reserves discovered to date on Alaska's North Slope since the Prudhoe strikes. The combination also creates a significant consolidation of ownership interests in the Trans-Alaska Pipeline Syst...

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