Week of August 11, 2008
(FY 2009 is from June 1, 2008 through May 31, 2009 - as prices and production equate to revenue in the month that follows.)
This FY 2009 Weekly Update shows our Spring 2008 projections for Alaska North Slope price and production versus actual price and production data. The department's Spring 2008 forecast is available on our web site at http://www.tax.alaska.gov/programs/documentviewer/viewer.aspx?1338f.
ANS Price
The department projects a FY 2009 ANS West Coast annual price of $83.04 per barrel in our Spring 2008 Forecast.
The graphic below shows actual ANS prices and forecasted prices at the end of FY 2009. As shown, fiscal year-end ANS price is $92.23 per barrel. This is $9.19 per barrel (or 10%) above our spring projection.
ANS Production
Our Spring 2008 forecast for FY 2009 Alaska North Slope production is 0.689 million barrels per day.
Year-end production, based on actual data at the end of this fiscal year and spring 2008 projections for FY 2009, is 0.680 million barrels/day. This is approximately 9,000 barrels per day (or 1.4%) below our spring forecast.
