Over 1 million acres of Alaska’s Cook Inlet is to be offered for exploration in a lease sale next month.
Australian oil firm 88 Energy said today that a well had been spudded on its Icewine asset in Alaska.
BP Plc is working to secure an ongoing natural gas leak in a well on Alaska’s North Slope that also sprayed crude oil for three days before that release was capped. The plan is to close the well, state officials said.
President Donald Trump is preparing to issue an executive order with the goal of giving oil companies more opportunities to drill offshore, reversing Obama-era policies that restricted the activity.
President Barack Obama is preparing to block the sale of new offshore drilling rights in much of the U.S. Arctic and parts of the Atlantic, a move that could indefinitely restrict oil production there, according to two people familiar with the decision.
Australian oil firm 88 Energy said today that it expected to pick a rig for the Icewine Project in Alaska in the coming weeks.
88 Energy today said a recent two billion barrel find in Alaska will be the catalyst to reinvigorate the area's industry interest.
Alaska Governor Bill Walker pledged his support to the oil industry after the state's reserves were boosted 80% overnight.
Alaska has created a new oil post as the state grapples with a sustained low oil price.
Well and stimulation design for 88 Energy's Icewine project in Alaska is almost complete as the company continues along its path to developing what it believes will be one of the biggest plays in the region.
88 Energy has completed the 2D seismic acquisition at its Icewine project in Alaska.
88 Energy said it is close to completing the design of its second Icewine well in Alaska.
88 Energy's Icewine project in Alaska continues to exceed expectations with the company revealing that core taken from the Icewine-1 exploration well has revealed two previously untested samples have "outstanding permeability" 20 times better than forecast.
The number of rigs drilling for oil and natural gas in the US has fallen to its lowest level since at least 1940.
Oil major BP said it would reduce the active rig count at its operations at Prudhoe Bay on Alaska’s North Slope leading to more than 200 job losses. The company said lower oil prices had forced the company to reduce the number of rigs in the region from five to two.
Core and petrophysics data indicate 88 Energy's flagship Icewine development in Alaska is a "world class resource" the company said in statement.
Shell's exit from Alaska last year was "a huge disappointment," but did not push top North American executive Marvin Odum to exit the company, he said.
88 Energy shares soared today after the company revealed its estimates for the Icewine-1 well in Alaska have been confirmed to be correct by the evaluation of the HRZ shale core.
88 Energy said it is "highly encouraged" by initial results from the HRZ shale testing at the Icewine #1 location in Alaska.
88 Energy said it has achieved its primary unconventional objectives as it completed its drilling campaign on the Icewine #1 well in Alaska.
88 Energy’s boss said results from its HRZ play in Alaska continued to remain supportive but there was still uncertainty until all analysis had been conducted. Dave Wall, the chief executive of the company, revealed the latest analysis of the critical HRZ shale interval of its Icewine play. Operations at the site are continuing following initial analysis, with plans moving forward to finalise its current operation before conducting a blowout preventer test.
88 Energy said it was encountering persistent oil shows in and above the critical HRZ shale interval of its Icewine play in Alaska.
88 Energy Limited said its Icewine #1 well in Alaska continues to remain within budget as it targets the HRZ shale formation and a huge unconventional resource prize.
88 Energy said initial hydrocarbon shows from drilling at its flagship Icewine #1 well in Alaska have been encouraging, both for conventional and unconventional plays being targeted.
Operations have restarted at 88 Energy's Icewine #1 prospect in Alaska after repairs to the drawworks were completed.