Alaska North Slope crude oil hit an eight-day streak where prices were over $50 per barrel this month.
On Thursday, the price for ANS was $51.74 a steady trend up from $38.06 it was priced at on Nov. 1, 2020.
Since Dec. 10, the price for ANS has only dipped slightly below $50 once.
The year will end with about 472,200 barrels a day coming from the North Slope, which should grow over the next decade. Production hit a low spot in May and June, when it went as low as 393,000 barrels, in response to a global economic slowdown.
Last December, prices for ANS ranged from $63.73 to $68.91 a barrel.
About 60 percent of Alaska’s revenue comes from oil and gas taxes, with production at 43.60%, oil and gas property tax, 11.17%, and oil and gas corporate income tax, 5.35% of overall revenues received by the state.
As for oil companies, it has been a year when their company values have been hit hard and have put the dow in down.
ExxonMobil is down 42 percent year to date, starting the year at over $70 per share and now selling at $41.60. This year, Exxon was kicked out of the Dow Jones Industrial Average index, where it has been since 1928. (So was Pfizer and Raytheon Technologies, as tech companies like Salesforce, Amgen Inc., and Honeywell International were added.)
ConocoPhillips started the year higher than $66 per share and is now trading at $39.49.
Schlumberger, the oilfield service provider, lost nearly half of its market valuation this year, with shared won 47 percent.
