Bald Eagle Energy, Inc., (BEEI.OB) is in good company as it seeks out oil and gas deposits in the Arctic regions of Alaska. Some of the biggest oil and gas companies in the world are exploring or producing, both on shore and off shore, in and around Alaska.
â€¢ ExxonMobil (NYSE:XOM) has been in Alaska for a long time, having invested over $20 billion since 1954, and it's still there, producing approximately 140,000 barrels of oil per day.
â€¢ Royal Dutch Shell (NYSE:RDS-B) is investing billions into offshore exploration in the Beaufort Sea and Chukchi Sea, off Alaska's north and northwest coasts.
â€¢ British Petroleum (NYSE:BP) operates the largest oil field in North America, the Prudhoe Bay Field in far northern Alaska, along with other oil fields and pipelines on Alaska's North Slope.
â€¢ Chevron Corp. (NYSE:CVX) has a number of exploration and production operations on Alaska's North Slope, and operates 10 platforms and 5 gas fields in the Cook Inlet Basin.
â€¢ ConocoPhillips (NYSE:COP) is Alaska's largest oil and gas producer, with ownership interests in two of the largest oil fields in North America, Prudhoe Bay and Kuparuk, along with operating interest in other Alaskan fields and operations.
However, there are also a number of smaller companies, now including Bald Eagle Energy, that are represented in the area.
â€¢ Eni SpA (NYSE:E), targeted to produce 40,000 barrels of oil per day by the end of 2009
â€¢ Anadarko Petroleum (NYSE:APC), with Alaskan reserves of 58 million barrels of oil equivalent
â€¢ Petro-Canada (NYSE:PCZ), with an annual investment budget for the region of $70 million
â€¢ Talisman Energy (NYSE:TLM), with Alaskan interests in over 950,000 acres
â€¢ Pioneer Natural Resources (NYSE:PXD), one of the first independents to operate on the North Slope
In spite of all the interest, much of Alaska and the Arctic remain unexplored. The reason so many large and small companies are looking north is simple. The U.S. Geological Service estimates that the Arctic holds nearly 25% of the world's undiscovered reserves.
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