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Notice of Extended Filing and Payment Deadline for Alaska Corporate Income Tax

Weekly Price/Production Update

Week of October 3, 2011

(FY 2012 is from July 1, 2011 through June 30, 2012)

This FY 2012 Weekly Update shows our Spring 2011 projections for Alaska North Slope price and production versus actual price and production data.

ANS Price

The department projects a FY 2012 ANS West Coast annual price of $94.70 per barrel in our Spring 2011 price forecast. Fiscal-year-to-date, ANS is averaging $110.97.

ANS averaged $104.36 this week, compared to last week's average of $110.02.

The graphic below shows actual ANS prices and forecasted prices for FY 2012. If DOR's price forecast holds for the remainder of the fiscal year, the average price for FY 2012 will be $99.11 per barrel. This is $4.41 per barrel (or 4.7%) above our Spring 2011 projection.

ANS Price Weekly Update

ANS Production

Our Spring 2011 forecast for FY 2012 Alaska North Slope production is 0.610 million barrels per day. Fiscal-year-to-date, ANS production is averaging .540 million barrels per day.

Year-end production, based on actual data and Spring 2011 projections for FY 2012, is 0.592 million barrels/day. This is approximately 18,460 barrels per day (or 3.0%) below our Spring 2011 projection.

Ans Production