NEWS BULLETIN

October 14, 2011 --- Vol. 17, No. 88October 2011

Savant taking over as operator at Badami unit

The Alaska Division of Oil and Gas has approved the designation of Savant Alaska as operator of the Badami unit on the eastern side of the North Slope.

In a letter dated today, division Director Bill Barron said BP Exploration (Alaska) Inc. tendered its resignation as Badami unit operator in August.

On Sept. 22, the division received Savant Alaska LLC’s notice of unit operator designation. Barron said the division met with Savant Oct. 7 to discuss its submittal.

Savant is a working interest owner in four Badami unit leases.

In its letter of resignation, BP said it retains responsibility for decommissioning existing Badami facilities and for plugging and abandoning all wells not transferred to Savant and ASRC Exploration LLC in the farmout agreement.

BP brought Savant on as a partner at Badami in mid-2008 in hopes of re-starting production at the troubled field.

BP transferred 67.5 percent working interest in four leases to Savant and 32.5 percent to ASRC Exploration late last year. The companies brought the unit back online in November.

—Kristen Nelson

See story in Oct. 23 issue, available to subscribers online Friday, Oct. 21 at 11 a.m. at www.PetroleumNews.com


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