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NEWS BULLETIN

July 20, 2015 --- Vol. 21, No. 29July 2015

Accumulate/Burgundy plan well at Franklin Bluffs

Burgundy Xploration and Accumulate Energy Alaska are planning to drill a single oil and gas exploration well from a lease at the Franklin Bluffs pad by the end of the year.

The Alaska Department of Natural Resources, Division of Oil and Gas, said it has received a lease plan of operations permit application and is accepting public comments through Aug. 20.

The companies plan to drill one vertical well, Icewine No. 1, to take cores in both unconventional and conventional reservoirs in ADL 392301.

Burgundy said in its application that it has 98,182 contiguous acres near the White Hills, which it refers to as the Icewine project area, and said it has formed a joint venture with Accumulate Energy which will eventually be the operator of the Icewine project. Both companies are Houston based.

Burgundy said it will use the existing Franklin Bluffs pad and plans to use the Nabors 105AC drilling rig, or a rig with similar specifications.

- KRISTEN NELSON

See story in July 26 issue, available online Friday, July 24 at www.PetroleumNews.com

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