Providing coverage of Alaska and northern Canada s oil and gas industry
88 Energy buys Umiat oil fields 2 tracts
Ahead of this winters Project Peregrine drilling at Merlin and Harrier firm buys NPR-A unit directly to south in bargain deal
Kay Cashman
Petroleum News
88 Energy said Jan. 11 that on Jan. 8 its wholly owned subsidiary Emerald House acquired the Umiat oil field in the National Petroleum Reserve-Alaska from Malamute Energy and Renaissance Umiat. The purchase price was a 4% overriding royalty interest on the two federal leases in the Umiat unit, as well as the assumption of liability of abandonment (estimated cost US$1 million) of two Umiat wells - 18 and 23H - drilled by Linc Energy in 2013/2014.
AIM-listed Pantheon Resources has spudded the Talitha-A well, North Slope of Alaska. The Company estimates the Talitha-A well will target in the region of a billion barrels of recoverable oil potential across the multiple stacked (primary and secondary) objectives.
Trump Administration Conducts First ANWR Coastal Plain Oil and Gas Lease Sale blm.gov - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from blm.gov Daily Mail and Mail on Sunday newspapers.
The Trump Administration is planning on auctioning off drilling rights to the Arctic National Wildlife Refuge in Alaska beginning Jan. 6 of next year, just two weeks before the inauguration of president-elect Joe Biden. This last-minute effort to pursue oil drilling in the ANWR has sparked disputes that are greater than ever before.
Controversy over drilling in the Arctic National Wildlife Refuge is not a recent development. In fact, debates over oil drilling began in 1980 when President Carter signed the Alaska National Interest Lands Conservation Act which gave rights to develop oil reserves in the Arctic Refuge as long as congressional approval was granted.