NEWS BULLETIN

May 30, 2000 --- Vol. 6, No. 21May 2000

Two exploration license proposals received for Susitna basin

The state has received two exploration license proposals for the Susitna basin in Southcentral Alaska.

The Department of Natural Resources Division of Oil and Gas said May 25 that it would evaluate both proposals, received in April -- the designated period each year during which proposals can be made to the state. Each area contains 474,240 acres.

The state is requesting both public comments and competing proposals.

Area 1, the more northerly of the two, is west of Talkeetna and south of Petersville and includes part of the drainage of the Kahiltna River. Area 2 is west of Willow and north of Susitna includes parts of the Kahiltna, Yenta and Susitna river drainages. Skwentna is in the northwest quadrant of area 2. Both areas are west of the Parks Highway.

The state map of the area shows two exploration wells in the proposal areas. Union Texas Petroleum drilled the 7,265-foot vertical 1 Pure Kahiltna Unit exploration well on the border between the two areas in 1964. The well was spud Jan. 18 and abandoned March 11. Two intervals were cored and logs were shot.

In area 2, Union Oil Company of Calif. drilled the 1 Trail Ridge Unit well in 1980 approximately 55 miles northwest of Anchorage. The directional well reached a measured depth of 13,708 feet and a true vertical depth of 12,626 feet. The well was spud May 31 and drilling was completed Dec. 13. The well was initially reported to the state as suspended; its status was changed to plugged and abandoned in 1982.

Competing proposals must be between 10,000 and 500,000 acres and may extend beyond the two areas.

Public comments and proposals are due by 5 p.m., July 24. Prospective licensees must notify the Division of Oil and Gas of their intent to submit a competing proposal by June 26.

Proposals must contain a description of the lands proposed for licensing and a map describing the location at a scale of 1:250,000 or greater; a specific work commitment expressed in dollars; a proposed term for the license; amount and form of security to be posed, based on projected cost of planned exploration work.


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