Smaller companies testify on Parnell’s tax plan

February 18, 2013 • Business

Bill Armstrong, president of Armstrong Oil and Gas Inc., seated far right, testifies on the governor’s oil tax plan before the House Resources Committee on Monday, Feb. 18, 2013, in Juneau, Alaska. (AP Photo/Becky Bohrer)

JUNEAU, Alaska (AP) — Independent oil companies offered a mixed assessment Monday of Gov. Sean Parnell’s proposed oil tax overhaul, saying it is a good start but needs additional work.

Both the House and Senate resources committees took testimony from several of the smaller companies that are either exploring for or producing oil on Alaska’s North Slope.

Pioneer Natural Resources Alaska, Brooks Range Petroleum, and Armstrong Oil and Gas said there were positive aspects to Parnell’s plan, including a tax break for new oil and the elimination of a progressive surcharge. But they raised concerns, including how his proposal deals with tax credits.

The chief operating officer for Brooks Range, Bart Armfield, said in his presentation that tax credits have helped to keep his company “in the game.” Login to read more

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