Reporting by Rishav Chatterjee in Bengaluru; Editing by Varun H K and Rashmi Aich
Alaska
Santos to divest half of working interest in 148 leases at Alaska North Slope (Sept 19)
Sept 19 (Reuters) – (This Sept. 19 story has been corrected to say the leases are in the Langiappe area, not at the Pikka project, and to say the deal is with two U.S.-based, not Alaska-based, companies)
Australian oil and gas major Santos (STO.AX) said on Tuesday it would divest half of its working interest in 148 exploration leases in the Langiappe area on the Alaska North Slope in a farm-down agreement with two U.S.-based companies.
Santos had initially acquired the parcels of land on the eastern North Slope as part of its merger with Oil Search in 2021.
The company will also not bear any costs surrounding initial activities during the exploration phase at the project.
Santos has signed the deal with a unit of U.S. energy major APA Corp (APA.O) and with Lagniappe Alaska, LLC, a subsidiary of U.S. energy firm Armstrong Oil & Gas.
“This transaction demonstrates the continued level of interest in exploration and development projects in the region, a tier one jurisdiction with supportive stakeholders and prospective undeveloped acreage,” Santos managing director and CEO Kevin Gallagher said.
The farm-down is subject to customary government approvals, Santos added.
Our Standards: The Thomson Reuters Trust Principles.
Alaska
Alaska Senate passes draft budget, confirming $175M in bonus public-school funding
The Alaska Senate on Wednesday approved a draft $12.25 billion state operating budget and in the process, finalized legislative plans to offer public schools a one-time, $175 million funding bonus.
The Senate’s proposed Permanent Fund dividend is about $1,580 per recipient, including an estimated $222 energy relief payment. That’s below the $2,270 figure included in a competing draft passed by the House, and the final figure will be subject to further debate.
The smaller amount reduces the risk of the state spending down savings.
“We’re living within our means. This is what it looks like,” said Sen. Bert Stedman, R-Sitka and co-chair of the Senate Finance Committee.
Stedman said the budget balances if the state’s oil production hits estimates and if North Slope oil prices average $78 per barrel between July 1, 2024, and June 30, 2025.
Oil and other sources of revenue would be enough to pay for state operations, as well as new legislation and the state’s capital budget, which pays for construction and renovation projects statewide.
Wednesday’s 17-3 vote, which follows the state House’s passage of its own draft operating budget, triggers the final phase of the Alaska Legislature’s annual budget process, where legislators negotiate a compromise between the two drafts.
In places where the drafts match, the relevant item is final, except that Gov. Mike Dunleavy has the ability to reduce or eliminate final items with his line-item veto power. He cannot increase them or add new ones.
On education, the Senate included a $680 one-time boost to the state’s Base Student Allocation, the core of Alaska’s per-student funding formula.
That’s worth about $175 million statewide, and the same language is in the House’s draft budget, making the item final, except for the governor.
Last year, Dunleavy vetoed half of an identical one-time boost, but in a news conference with reporters on Wednesday, the governor signaled that he may not repeat his veto.
“I’ve told people I’m open to the increase,” Dunleavy said, “an increase in one-time funding, especially to help with the inflationary issues.”
The Senate budget also includes a House-adopted plan to spend $5.2 million more on reading programs for students in kindergarten through third grade.
Senators included additional money for student transportation, something that will have to be negotiated with the House, which did not include it.
Also subject to further negotiation is $11.9 million in education money added after the federal Department of Education warned that the state underfunded some school districts during the COVID-19 pandemic.
The Senate is led by a supermajority of nine Democrats and eight Republicans, and Wednesday’s draft budget was crafted by that supermajority.
Before the final vote, the three Republicans outside the majority offered 21 amendments containing a variety of priorities, but all failed.
The most contentious amendments dealt with the amount of this year’s Permanent Fund dividend, which Stedman labeled “the focal point of most budgets.”
Sen. Mike Shower, R-Wasilla, proposed taking extra money from the Alaska Permanent Fund to increase the Senate’s proposed dividend to a figure above the House’s amount, once the energy relief payment is included.
While much of the fund is constitutionally protected, lawmakers need only a simple majority to break a law that limits spending from the fund’s earnings reserve, which contains money accumulated from the fund’s investments.
Shower said his proposed dividend is what was recommended by a bipartisan, bicameral working group and implied that passage could encourage work on a plan to bring the state’s long-term finances into balance.
He had support from Sen. Shelley Hughes, R-Palmer, who said, “If we were to pass this, we would start on the road toward a fiscal plan.”
But a majority of other senators opposed the idea. Stedman said he believed the amendment would instantly create a billion-dollar deficit.
“I don’t think this is a prudent amendment,” he said.
Sen. Forrest Dunbar, D-Anchorage, said he’d like to see larger dividends, but thus far, the Legislature hasn’t advanced other needed components of the financial plan, including new state revenue.
Shower’s amendment failed, 6-14.
The House and Senate are expected to appoint lawmakers to a budgetary conference committee on Monday, starting work on a final budget draft.
The budget is typically the final item passed before the Legislature adjourns for the summer.
Alaska
Making the Most of It in Alaska's Ruth Gorge » Explorersweb
There’s a tradition of improvisation on Mount Dickey in Alaska’s Ruth Gorge. Season after season, the mountain’s mile-high granite faces draw the planet’s best climbers. And season after season, these visitors watch their main objectives evaporate as Mother Nature forces them to obey.
That doesn’t mean they fail.
Tom Livingstone and Gaspar Pintar are the latest pilgrims in the Mt. Dickey saga. The Great Wall (ungraded as of this writing) slices across lower slabs and up a tenuous couloir to the 2,909m summit. It’s an unconventional line on the mountain’s often-overlooked south face.
Its features attracted Livingstone and Pinter as soon as they arrived in the Gorge, but amounted to Plan B. Originally, they had set their sights on the classic east face route Blood From the Stone — but it didn’t give passage.
“When we swung our axes into what we hoped was ice, we found mostly unprotected sugar snow,” Livingstone wrote on Instagram. He noted other routes stopped them with similar obstacles.
Bad rock, few routes
Pivoting, he and Pintar refocused on the south face. It’s famous for bad rock and generally bereft of routes. But the climbers noticed an opportunity.
“Crazy slabs” protected the couloir and summit access, Livingstone wrote. But the climbers made a bid anyway.
“Many pitches looked improbable, always tricky. The weather was fickle, but we got lucky,” Livingstone reported. “A subtle traversing line up steep rock led us to the middle of the face, pumpy ice, and a cave bivy. Then we zigzagged higher as snow fell (or rather, rose in the updraft).”
Another marginal bivy on a “snow arete” led to pitches of overhanging neve to the top. In their weeks-long stay, this would be the only summit the two touched.
“Conditions seem ‘bad’ this year but we’re happy to have made the most of it,” Livingstone commented — a takeaway that falls directly in line with the recent history of Ruth Gorge climbing.
Failure or opportunity?
For an adroit alpine climber, Blood From the Stone (1,524m, A1 M7+ WI6+X) is a juicy prize. That’s part of the reason Sean Easton spent multiple seasons establishing it with the likes of Ueli Steck. Deterred over and over by ephemeral ice, Easton finally broke through in 2002 with Steck.
The threshold was thin, even though both climbers were at the height of their fitness. (Steck was fresh off his groundbreaking Eiger solo.) Each man took lead falls that would unnerve the masses, and Easton published a breathy report in the American Alpine Journal.
“With moments of doubt, we had ventured forth without certainty…and the path had unwound before us,” he said.
Thin ice and outright difficulty combined to prevent a repeat for over two decades. Livingstone and Pintar are not the first Blood hopefuls to abandon the route and create their own. Alan Rousseau and Jackson Marvell followed the same blueprint to stamp out Ruth Gorge Grinder (1,524m, AI6+ M7 A1) in 2019.
“A pitch and a half up [Blood From the Stone], it became obvious to me there was not enough ice on the route to safely continue,” Rousseau wrote. “If we didn’t feel defeated enough already in that moment, as we rappelled back to the bivy, we saw two ravens fervently tearing through Jackson’s bag of stashed food.”
Defeat, shmefeat. Marvell and Rousseau returned to the Ruth with Matt Cornell in 2023. Another new east face line, Aim For the Bushes (1,600m, AI6 M6X) resulted.
In the Ruth Gorge, one thing’s clear: Just because a rope team backs off doesn’t mean they’re out of the fight.
“In total, we tried six routes,” Livingstone said of his and Pintar’s trip, “staying busy and psyched! Hats off to folk who’ve climbed routes here.”
Alaska
Alaska Senate passes draft budget, confirming $175 million in bonus public-school funding • Alaska Beacon
The Alaska Senate on Wednesday approved a draft $12.25 billion state operating budget and in the process, finalized legislative plans to offer public schools a one-time, $175 million funding bonus.
The Senate’s proposed Permanent Fund dividend is about $1,580 per recipient, including an estimated $222 energy relief payment. That’s below the $2,270 figure included in a competing draft passed by the House, and the final figure will be subject to further debate.
The smaller amount reduces the risk of the state spending down savings.
“We’re living within our means. This is what it looks like,” said Sen. Bert Stedman, R-Sitka and co-chair of the Senate Finance Committee.
Stedman said the budget balances if the state’s oil production hits estimates and if North Slope oil prices average $78 per barrel between July 1, 2024, and June 30, 2025.
Oil and other sources of revenue would be enough to pay for state operations, as well as new legislation and the state’s capital budget, which pays for construction and renovation projects statewide.
Wednesday’s 17-3 vote, which follows the state House’s passage of its own draft operating budget, triggers the final phase of the Alaska Legislature’s annual budget process, where legislators negotiate a compromise between the two drafts.
In places where the drafts match, the relevant item is final, except that Gov. Mike Dunleavy has the ability to reduce or eliminate final items with his line-item veto power. He cannot increase them or add new ones.
On education, the Senate included a $680 one-time boost to the state’s Base Student Allocation, the core of Alaska’s per-student funding formula.
That’s worth about $175 million statewide, and the same language is in the House’s draft budget, making the item final, except for the governor.
Last year, Dunleavy vetoed half of an identical one-time boost, but in a news conference with reporters on Wednesday, the governor signaled that he may not repeat his veto.
“I’ve told people I’m open to the increase,” Dunleavy said, “an increase in one-time funding, especially to help with the inflationary issues.”
The Senate budget also includes a House-adopted plan to spend $5.2 million more on reading programs for students in kindergarten through third grade.
Senators included additional money for student transportation, something that will have to be negotiated with the House, which did not include it.
Also subject to further negotiation is $11.9 million in education money added after the federal Department of Education warned that the state underfunded some school districts during the COVID-19 pandemic.
The Senate is led by a supermajority of nine Democrats and eight Republicans, and Wednesday’s draft budget was crafted by that supermajority.
Before the final vote, the three Republicans outside the majority offered 21 amendments containing a variety of priorities, but all failed.
The most contentious amendments dealt with the amount of this year’s Permanent Fund dividend, which Stedman labeled “the focal point of most budgets.”
Sen. Mike Shower, R-Wasilla, proposed taking extra money from the Alaska Permanent Fund to increase the Senate’s proposed dividend to a figure above the House’s amount, once the energy relief payment is included.
While much of the fund is constitutionally protected, lawmakers need only a simple majority to break a law that limits spending from the fund’s earnings reserve, which contains money accumulated from the fund’s investments.
Shower said his proposed dividend is what was recommended by a bipartisan, bicameral working group and implied that passage could encourage work on a plan to bring the state’s long-term finances into balance.
He had support from Sen. Shelley Hughes, R-Palmer, who said, “If we were to pass this, we would start on the road toward a fiscal plan.”
But a majority of other senators opposed the idea. Stedman said he believed the amendment would instantly create a billion-dollar deficit.
“I don’t think this is a prudent amendment,” he said.
Sen. Forrest Dunbar, D-Anchorage, said he’d like to see larger dividends, but thus far, the Legislature hasn’t advanced other needed components of the financial plan, including new state revenue.
Shower’s amendment failed, 6-14.
The House and Senate are expected to appoint lawmakers to a budgetary conference committee on Monday, starting work on a final budget draft.
The budget is typically the final item passed before the Legislature adjourns for the summer.
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