Australian oil and gas explorer Buccaneer says flow testing has been successfully carried out at the Cosmo 1 well off Alaska.
The company, which has a 25% stake in the well with 75% partners BlueCrest, was successfully flared after testing at a maximum rate of 7.2million cubic feet per day.
Buccaneer chairman Dean Gallegos said the well had confirmed the presence of an ‘extensive’ hydrocarbon column covering numerous formations above the previously known oil reservoirs.
Preparations are now underway to test a second gas zone, at a measured depth of 4300ft.