Today’s Stats

Alaska Crude
West Coast Delivery $109.51 $-1.25 February 2, 2012
Natural Gas
Henry Hub $2.30 $-0.02 February 2, 2012
Oil Throughput 616,075 -10,477 February 1, 2012

History – 1950′s

  • The Swanson River oil field in Kenai is discovered after 166 consecutive dry holes were drilled in Alaska (production begins 1961).
  • Wellhead price of U.S. crude oil is $3.09 per barrel.

1958

  • William Egan (D) elected Governor (1958-1962).

1959

  • Alaska becomes 49th state.
  • First offshore Cook Inlet lease sale.
  • Kenai gas field discovered (production begins 1961).
  • First oil and gas revenues in Alaska total $3 million, 12% of unrestricted general fund.
Did You Know

A portion of oil revenues was set aside in 1976 for future generations. The Alaska Permanent Fund, now worth approximately $32 billion, distributes an annual dividend. Since the dividend started in 1980, a family of four has received $123,640. This includes the recent dividend of $1,305 for every Alaskan.