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Apache likes Dan Donkel, Alaska Oil and Gas and follows Buccaneer Energy into the Cook Inlet

|Includes: APA, BP, CVX, Exxon Mobil Corporation (XOM)

So it seems the cat is out of the bag, Apache didn't buy BPs headaches in Prudhoe Bay, instead they bought Dan Donkel's lease position in the Cook Inlet.  I think this should send a real signal to the industry, Apache is saying to BP you keep your Prudhoe Bay I am going to go explore where we know the oil is.

Of course the State of Alaska is actively trying to bring new players into the state and it seems that Apache got the message.  Of course Buccaneer Energy and others got the message first, but the real exciting news is that Apache came to the same conclusion as BCC.  The Cook Inlet represents a huge opportunity for a small, or smaller, independents that can move fast.

How Donkel managed to mass together a position of 200,000 acres in the Inlet is probably a story unto itself, but it shows that the majors are not paying attention to the best opportunities to partner with independents.  It also shows that Donkel can get out ahead of the crowd.  So where is Dan going now?  It seems he has all ready taken a position on the North Slope and is bringing together a team to help sell it.

When Curtis headed to Alaska, I think many of us said, "huh" what happened to Gulf of Mexico and onshore Texas?  Now it seems that like Dan Donkel, BCC finds that all roads lead to Alaska.  And they had better move fast, things are changing in Washington even as we speak.

Recently World Energy posted an interesting piece on Alaska and the coming struggle between the federal government and the states over drilling rights.  If the federal government takes over the permitting process this could get ugly fast.  However, one thing is certain the price of oil is going to go up.

Fortunately for Buccaneer they all ready have production, hopefully they have all ready applied for their permits and are able to get some new wells drilled quickly.