Another Alaska Oil Pipeline Shutdown Planned for Leak Repairs

Source: The Anchorage Daily News, Elizabeth Bluemink (1/13/11)

"Workers install new piping to fix a leak that prompted a four-day emergency shutdown."

The trans-Alaska pipeline is scheduled to shut down again this weekend for about 36 hours while workers install new piping to fix a leak that prompted a four-day emergency shutdown, company officials and regulators said.

The 800-mile line restarted at reduced flow on a short-term basis Tuesday night. The line was carrying oil from the North Slope oil fields on Wednesday at about two-thirds of its normal rate: roughly 400,000 barrels per day.

Federal and state regulators are allowing Alyeska Pipeline Service Co. to pump oil through the line even though it is causing more oil to leak from the faulty pipe encased in concrete at Pump Station 1 that prompted the shutdown on Saturday.

The ranking Democrat on the U.S. House Natural Resources Committee sent a letter to Alyeska on Wednesday with a battery of questions about the leak: why it happened and whether the decision to restart the 800-mile line has created new spill risks.

Rep. Edward Markey of Massachusetts reminded Alyeska in his letter that the company testified to Congress in 2007 that accelerated corrosion was not a threat for the 800-mile line. The company also testified that it had added new corrosion monitoring locations at Pump Station 1, he wrote.

"It would appear those new monitoring locations were insufficient," Markey wrote. He requested a response to his letter by next Tuesday.

Option Partner to Continue Operations at Energy Firm's Texas Oil & Gas Project
Source: Streetwise Reports (01/23/2021)

The efforts will meet Torchlight Energy Resources' development requirements at Hazel.

Target Price Raised on Energy Firm Making 'Transformative Acquisition'
Source: Streetwise Reports (01/06/2021)

The terms and benefits of Earthstone Energy's purchase of an oil and gas company, an "eye-catching act of deal making," are presented in a ROTH Capital Partners report.

Energy Firm to Combine with Materials, Nanocomposites Company
Source: Streetwise Reports (12/16/2020)

Torchlight Energy Resources sees the transaction providing its shareholders "access to the multibillion-dollar markets that Metamaterial serves."

Oil & Gas Producer Reports on Thailand Operations
Source: Streetwise Reports (12/02/2020)

Pan Orient Energy Corp. reports on continuing drill operations in Thailand.

Energy Company Boosts Thailand Oil Production, Offers 'Low Risk Production Growth'
Source: Streetwise Reports (11/19/2020)

The highlights of Pan Orient Energy's third quarter are presented in a Mackie Research Capital Corp. report.

Texas Oil & Gas Firm to Sell Its Stake in Delaware Basin Project
Source: Streetwise Reports (11/18/2020)

For its interest, Torchlight Energy Resources is to receive $350,000.

Oil & Gas Firm Reports Q3 Operational, Financial Results
Source: Streetwise Reports (11/16/2020)

Pan Orient Energy and its joint venture partner continue producing and selling oil from its L53 Concession in Thailand, which are funding ongoing exploration work there.

Texas Oil & Gas Explorer Completes Fracking of Midland Basin Well
Source: Streetwise Reports (11/11/2020)

The next step for Torchlight Energy's well at Hazel is flowback, which is to start next week.

Altus Midstream Shares Flow Higher on Q3 Earnings and Plans for $1.50/Share Dividend in Q1/21
Source: Streetwise Reports (11/05/2020)

Shares of Altus Midstream Co. traded 170% higher after the firm reported Q3/20 financial results and announced plans to pay a quarterly dividend of $1.50 per share beginning in March 2021.