Cook Inlet Energy has received fines totaling $50,000 from the Alaska Oil and Gas Conservation Commission (AOGCC) — $25,000 for failing to test a new injection well from its Osprey oil platform and another $25,000 for failing to notify AOGCC when that well later showed “significant pressure anomalies,” according to AOGCC’s Monday order issuing the fines.
oil and gas
The Alaska Oil and Gas Conservation Commission — the state regulatory oversight group for the hydrocarbon industry — has issued a $446,000 penalty to Cook Inlet Energy for safety valve violations in early 2014.
Six of the country’s major energy-producing states have slipped into recession after a sharp decline in production and exploration over the last 18 months caused their tax revenue to plummet and job growth to stagnate, according to a financial analysis released Tuesday.
An issue that sank plans for a budget fix in 2016 will soon resurface in the Alaska Legislature.