10/03/11 - 9:14am
Production from the North Slope may be declining faster than expected. Production declined 7.45 percent for the 12-month period preceding July 1, compared to the previous 12 months, according to preliminary data from the state Department of Revenue.
Average production for the state’s fiscal year 2011, from July 1 2010, to June 30, 2011, was 596,000 barrels per day, the department said.
The long-term average decline in production has been about 6 percent.