Linc Energy has spud its first Alaska exploration well, the company said yesterday.
The Australian company recently began drilling LEA No. 1, an onshore vertical well located just north of Point MacKenzie Road across Knik Arm from Anchorage.
“The well has been designed to target a number of stacked gas objectives whilst intersecting regional coal measures,” Linc Energy CEO Peter Bond said in a prepared statement.
Bond said the quick turnaround on the leases acquired earlier this year demonstrated Linc’s commitment to the U.S. energy market.
“These Alaskan assets will be a definitive part of the early cash-flow opportunities for Linc Energy in the months ahead,” Bond said. “I look forward to updating the market on the results from LEA No. 1 and the expansion of our operations and exploration activities within Alaska in due course.”
Linc previously said it hoped to use revenue generated from the traditional exploration program to fund underground coal gasification projects in the Cook Inlet basin.
Linc Energy entered Alaska in March, acquiring 122,000 acres from San Francisco-based independent GeoPetro. The acreage includes state and Alaska Mental Health Land Trust leases split between Granite Point on the west side of Cook Inlet and Point MacKenzie.
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