Donkel Oil Company
Dan Donkel and his associates have accumulated one of the largest assortments of high quality projects on the North Slope of Alaska. As one of the top ten lease holders on the North Slope, the Donkel team has carefully selected acreage positions that contain numerous and varied exploration targets as well as older discoveries that were by-passed by the initial explorers in the region. Many locations only require a twinning of the original discovery well in order to establish the existence of hydrocarbon reserves for the leases.
Dan Donkel has been working in Alaska since 1985 and during this time his oil companies have owned over 1 million acres of oil and gas interests. Donkel’s mission is to bring investment capital from independent oil and gas companies to Alaska in order to reinvigorate the state’s hydrocarbon production. Donkel firmly believes that unlocking this huge resource left behind by the majors is key to accessing the greatest source of wealth our country has to offer, to the benefit of both Alaskans and our nation as a whole
Alaskan Tax Rebates — ACES
Alaska’s Clear and Equitable Share Oil and Gas Production Tax
Signed into law in December, 2007, ACES was designed to encourage investment in the exploration and development of new oil and gas resources in Alaska. State revenues under ACES in FY 2009 exceeded amounts which would have been generated under either the PPT or ELF systems. The crossover point at which ACES is projected to provide more revenue than ELF is $51 per barrel west coast price in FY 2010. Activation of the progressive surcharge is estimated to occur when west coast sales prices reach $56 per barrel. Capital spending on the North Slope totaled over $2.2 billion in FY 2009, an increase over FY 2008. This is nearly the highest level of capital spending in nominal dollars since oil production began in the state.
ACES Effect on Exploration Expenses:
Total E&P spent in Alaska for FY 2009—$4.9 Billion
Alaska Tax Credit Program in effect since April 2006–almost 4 years of actual operations and experience available to verify authenticity of the program.
The State of Alaska repurchased $193 million in tax credits from explorers and developers in FY 2009.
The State of Alaska to date repurchased $49 million in tax credits from explorers and developers in FY 2010.
For CY 2008, a total of $497 million in tax credits were claimed by explorers, developers and producers. ($346 million claimed by producers and $151 million claimed by explorers and developers.)
North Slope Projects
The North Slope is a term used to describe the northernmost region of the United States, extending from the northern slope of the Alaskan Brooks Range to the southern shores of the Arctic Ocean. Along the northern coast of Alaska, the ocean has been divided into two marginal seas, the Chukchi Sea to the west of Point Barrow and the Beaufort Sea to the east. The map above shows the location of over 200,000 acres that Mr. Donkel and his associates have amassed on the North Slope. According to the U.S. Department of Energy, the North Slope could yield up to 36 billion barrels of oil and 137 trillion cubic feet of natural gas through 2050.
On-shore — West
Hemi Springs — South Prudhoe
East Prudhoe Bay
North Yukon Gold
South Yukon Gold
Franklin Bluffs Pipeline
Off-shore — West
Off-shore — East
Stinson, East Point Thomson