In 68 years of oil industry history in Alaska, the independent has already played a substantial role. Eighty-three independent oil companies or operators have participated in drilling 82 exploratory wells or stratigraphic tests. Their activities extended from the discovery of first commercial oil at Katalla in 1902, to the extension of the Prudhoe Bay field in 1970. The success ratio for wildcat wells in Alaska is considerably higher than “outside,” and fields have all been major in statute, thereby reducing the cost per barrel of finding oil.
The most immediate deterrent to the success of the independent in Alaska is the land freeze resulting from the lack of settlement of the claims of Alaska natives. The hoped for lifting of the freeze will afford success to those operators prepared to take advantage of the opportunities.
© 1971 University of Missouri--Rolla, All rights reserved.
Simasko, D. L.
"The Role of the Independent in Alaska's Mineral Development,"
UMR Journal -- V. H. McNutt Colloquium Series: Vol. 2
, Article 16.
Available at: http://scholarsmine.mst.edu/umr-journal/vol2/iss1/16