This presentation briefly covers some of the results from the major federal offshore lease sales that occurred in the last few years, wells drilled, current activity, and some of the future plans from an industry point of view. Also discussed will be general environmental conditions expected and drilling equipment required when exploring for oil and gas in the Arctic and Sub-Arctic offshore regions.

Offshore Alaska, is it the last frontier? To be honest, we don’t know. But one thing is clear, the Arctic is a frontier region with an unfamiliar set of parameters within which our industry has to operate, and therefore, the rules of the game are tremendously different.