ibusinesslines.com June 24, 2017

Alaska Says BP Oil And Gas Leak Stopped

21 April 2017, 07:30 | Kelvin Horton

Oil spill reported in Alaska, volume unknown

Alaska Commissioner of Revenue Randy Hoffbeck presents the annual spring forecast of government revenue at a Friday committee hearing

DEC is coordinating with BPXA and the Alaska Oil and Gas Conservation Commission to investigate the cause. This last March, daily output in the area hit 565,000 bpd - the highest in more than three years. Oil was spraying from a leak near the top of the well. But the continuing natural gas leak continues to be a problem. "The bottom leak has been reduced, but is now leaking gas as well as some minor amount of crude oil". The spill was discovered on Friday, and the oil leakage has since been contained but gas is still flowing from the well, according to the Alaskan Department of Environmental Conservation.

On Monday, almost three days after the leak was found, ADEC announced the unified command had to managed to "kill" the well overnight and end the gas leak.

"It's tough to determine collateral impacts at this point, but some incident-related slowdown at Prudhoe Bay seems at least a reasonable risk to consider", Tudor Pickering Holt & Co., a Houston-based energy investment bank, wrote in a Monday note.

The network said other quantities of natural gas were leaking from the site along with crude oil and investigations were underway to find out the causes of the accident. But its infamous 2010 Deepwater Horizon oil spill focused the world's attention on the environmental and economic importance of the Gulf of Mexico.

No injuries have been reported. By Sunday night, the well had settled about 11 in. So far, officials have triggered a safety valve to slow the release of natural gas from the well, but the well was still leaking as of Sunday afternoon.

On Friday, an oil spill occurred at a well on the frozen tundra of Alaska's North Slope near Prudhoe Bay, The Wall Street Journal.

The Alaskan North Slope crude was valued at a per barrel value of $1.9 over the U.S. benchmark West Texas Intermediate on 13th April.

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