Abstract
A significant increase in exploration activity over past years occurred in 1989. Two and one-half times the number of exploration wells were drilled and evaluated, and more than twice as much geophysical work took place as in 1988. Included in this effort were the first 3 wildcat wells spudded in the frontier basin of the Chukchi Sea, and the announcement of a new oil field discovery at Point McIntyre on the Arctic Slope. The year's positive events were overshadowed significantly by the oil spill which occurred in March 1989 in Prince William Sound. The impacts of the spill are still being felt in oil and gas leasing, development, taxation, and petroleum transportation policies throughout the state of Alaska as well as nationwide. Despite this situation, the renew d exploration effort continued at the end of 1989, and promises to remain at least as strong through 1990.
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