For instance, in 2003:
BP plans to shut Alaska North Slope oil field
http://www.planetark.com/dailynewsstory.cfm/newsid/21455/story.htm<snip>Located midway between Prudhoe Bay and the Arctic National Wildlife Refuge (ANWR), Badami was once seen as a vital link to new oil production on the eastern North Slope.
The field is estimated to hold 120 million barrels, but reservoir problems limited daily production to no more than 18,000 barrels, well below the expected rate of 30,000 barrels, and currently it produces 1,300 barrels a day, which Beaudo called "uneconomic".
Some environmentalists say Badami's fortunes show that oil prospects on the eastern North Slope -- particularly in the wildlife refuge -- are less than development backers predicted.
"It's such a good example of how the industry continues this big hype about estimates of reserves," said Eleanor Huffines, Alaska regional director for The Wilderness Society.<snip>
The North Slope has never done what was hyped - the original plan was for five parallel lines, but production has never warranted it...
But can oil cronies write off big bucks on their existing production by undertaking "wildcat" operations in the North? You betcha.
Like flies, they shit on what they don't eat...