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The entire well construction process ? including hydraulic fracturing ? takes about two or three months. The well is then ready for 20 to 30 years of productive life.
In order to drill a well for oil, gas, or geothermal resources in Alaska, a person must obtain a Permit to Drill from the Alaska Oil and Gas Conservation Commission (AOGCC).
If you own the surface, you must get a signed agreement with the mineral rights owner giving you permission to explore for oil or gas. Usually you promise to pay a percentage of the income you hope to produce to the mineral rights owner as compensation for that permission.
March 16, 2023 pm Willow field, a 600-million-barrel, US$8 billion oil project recently approved by the Biden administration ? to the outrage of environmental and climate activists ? is the latest chapter in that long saga.
The Arctic is a high-risk environment for the oil industry. At the center of the Arctic battle is Alaska's North Slope, which borders the Beaufort Sea in the state's far north.
Conservationists said that oil development would unnecessarily threaten the existence of the Porcupine caribou by cutting off the herd from calving areas. They also expressed concerns that oil operations would erode the fragile ecological systems that support wildlife on the tundra of the Arctic plain.
The BLM administers the Federal onshore oil and gas leasing program in Alaska, as well as issues permits for geophysical exploration, permits to drill oil and gas wells, and authorizations to construct pads and production facilities.