BP RESUMES HURL STATE DEVELOPMENT

BP Exploration Alaska Inc. has resumed work on the $80 million Hurl State development project in the western edge of Alaska's giant Prudhoe Bay oil field. The company halted the project last year after Alaska changed the formula for calculating oil and gas severance taxes (OGJ, June 12, Newsletter). BP's tax bite from the changes was an added $85 million that did not figure into its 1989 budget. Consequently, the project was put on hold until it could be plugged into the 1990 budget.

Jun 18th, 1990
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