NEWS BULLETIN

November 06, 2019 --- Vol. 25, No.47November 2019

North Slope Mustang field is online!

In response to a query from Petroleum News, Majid Jourabchi of Houston-based Thyssen Petroleum confirmed this morning, Nov. 6, that the North Slope Mustang field is online, utilizing an early production facility.

"We are currently online and have been putting our oil through the Alpine pipeline for the past few days. As you can imagine the LACT unit is already in place and we are selling our oil. Work on the field is a continuing and in the next couple of months we hope to achieve more milestones," Jourabchi said in an email.

Mustang, in the Southern Miluveach unit, is operated by Brooks Range Petroleum Corp., or BRPC, which is run by Bart Armfield, who has been with the project from the beginning.

Mustang is the first oil field that a small independent has taken from discovery to production on the North Slope.

When BRPC announced the Mustang discovery in early 2012, company officials said they needed help bringing the field into production.

Help arrived in mid-2014, when JK E&P Group Pte. Ltd., Thyssen Petroleum North Slope Development LLC and MEP Alaska LLC acquired BRPC and a package of North Slope properties from Alaska Venture Capital Group and Ramshorn Investments Inc. for $450 million. Today, JK E&P subsidiary Caracol Petroleum LLC owns a 50% interest in Brooks Range Petroleum, TP North Slope Development LLC (Thyssen) owns a 32.5% interest and MEP Alaska LLC owns a 15% interest. (The remaining 2.5% is unaccounted for in the Alaska corporations database.)

- KAY CASHMAN

See story in Nov. 10 issue, available Friday, Nov. 8 at www.PetroleumNews.com.

For information on PN's news bulletin service, call 907-522-9469. PO Box 231651, Anchorage, AK 99523 - 1651


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