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Hilcorp begins production from field south of Ninilchik

Anchorage Daily News -- By KRISTEN NELSON — Petroleum News

Hilcorp Alaska began natural gas production from Red Pad on the Kenai Peninsula last week.

Production is at 5 million cubic feet per day, Hilcorp Alaska spokeswoman Lori Nelson told Petroleum News in an email. She said Hilcorp is "continuing to monitor the system" and hopes to reach its original production estimate of 6.5 million cubic feet per day.

The field was discovered by Unocal in 2004, and the Red 1 well tested 3.2 million to 5.8 million cubic feet per day in a 26-hour test. A second well, Red 2, was also drilled and tested in 2004, but there were no measurable hydrocarbons. Production is from an existing gravel pad built by Unocal.

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Submitted Dec 23, 2012 By: Nitewolf

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tbgasmizer Champion Author Ontario Posts:6,053 Points:1,230,620 Joined:Oct 2009	Message Posted: Dec 23, 2012 7:46:41 AM Ignore tbgasmizer Report Abuse Thier is a large supply use it,
paulweb All-Star Author Ohio Posts:806 Points:355,670 Joined:May 2011	Message Posted: Dec 23, 2012 7:44:09 AM Ignore paulweb Report Abuse Profits will soon evaporate as govt taxes them to death.
StephenOM Champion Author Ocala Posts:2,598 Points:1,298,070 Joined:Aug 2008	Message Posted: Dec 23, 2012 7:40:40 AM Ignore StephenOM Report Abuse As in all things capitalism, there is bust until there is boom, then back to bust. Long range planning and measured business are often replaced by the desire to "strike while the iron is hot." But it's not limited to business. It was individuals who lusted after acquiring a "bigger, better" house, refinancing their existing home to 130% of it's value to finance that Mercedes, boat, jet ski or vacation home. In the process driving up housing prices to an unbearable and unsustainable level until it had to break. Now, the lust for profit, certainly, but for the individual the lust for cheaper energy, drives what will be an unsustainable search for more and more energy. Driving down prices to unsustainable levels. After all,it's those prices that "fuel" the engine of worker demands for higher wages and benefits. Eventually, the cheaper costs are unable to sustain the higher wages and the collapse begins. On that happy note...Merry Christmas.
rsm315 Champion Author Detroit Posts:1,634 Points:539,985 Joined:Dec 2009	Message Posted: Dec 23, 2012 7:36:42 AM Ignore rsm315 Report Abuse ok great
FocusST2 Champion Author North Carolina Posts:8,148 Points:1,379,900 Joined:Jul 2009	Message Posted: Dec 23, 2012 7:36:01 AM Ignore FocusST2 Report Abuse I've never quite understood why more homes aren't heated with NG especially since there is so much here in the US.
afghaned Champion Author Hamilton Posts:11,822 Points:1,287,110 Joined:May 2004	Message Posted: Dec 23, 2012 7:35:52 AM Ignore afghaned Report Abuse To market!?,!
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lpatti1 Champion Author Philadelphia Posts:10,206 Points:1,964,235 Joined:Sep 2005	Message Posted: Dec 23, 2012 7:33:53 AM Ignore lpatti1 Report Abuse Great news just keep the Govt out of it!
bondo Champion Author Twin Cities Posts:3,516 Points:763,735 Joined:May 2001	Message Posted: Dec 23, 2012 7:32:16 AM Ignore bondo Report Abuse I like hearing about additional production.
JCClark2012 Champion Author New Hampshire Posts:1,409 Points:396,870 Joined:Mar 2012	Message Posted: Dec 23, 2012 7:31:36 AM Ignore JCClark2012 Report Abuse Ok
bell05 Champion Author Atlanta Posts:9,260 Points:1,877,585 Joined:Jun 2005	Message Posted: Dec 23, 2012 7:31:16 AM Ignore bell05 Report Abuse We ought to leave some of this NG alone till we need it
oas Champion Author Maryland Posts:4,235 Points:2,142,390 Joined:Feb 2005	Message Posted: Dec 23, 2012 7:30:45 AM Ignore oas Report Abuse Keep it safe.
N5EXY Champion Author Austin Posts:5,497 Points:1,511,355 Joined:Jul 2004	Message Posted: Dec 23, 2012 7:30:45 AM Ignore N5EXY Report Abuse I never heard of these places - yet. But we will.
Hypersonic All-Star Author Maryland Posts:962 Points:850,290 Joined:Aug 2008	Message Posted: Dec 23, 2012 7:29:43 AM Ignore Hypersonic Report Abuse Now Alaska's ground water will be contaminated and the permafrost lost.
rbutterw Champion Author Raleigh Posts:1,185 Points:294,475 Joined:Mar 2012	Message Posted: Dec 23, 2012 7:29:33 AM Ignore rbutterw Report Abuse Finally
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fullauto Champion Author Reading Posts:5,325 Points:1,473,040 Joined:Apr 2008	Message Posted: Dec 23, 2012 7:24:53 AM Ignore fullauto Report Abuse easier to produce in lower 48
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installer All-Star Author San Diego Posts:936 Points:478,300 Joined:Nov 2008	Message Posted: Dec 23, 2012 7:20:20 AM Ignore installer Report Abuse A lot of product came on line simultaneously and first to market collects the bucks. Usually by contract and at prices adjusted/determined by the market.
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FBI2991 Champion Author Michigan Posts:4,215 Points:1,140,840 Joined:Nov 2008	Message Posted: Dec 23, 2012 7:18:56 AM Ignore FBI2991 Report Abuse ok, but let's keep it in the US, Not exported.
RichWLIN Champion Author Indiana Posts:4,101 Points:639,840 Joined:Jun 2011	Message Posted: Dec 23, 2012 7:18:55 AM Ignore RichWLIN Report Abuse Lots of untapped resources are circumvented to make the way for "green" opportunists.