Savant moves Kupcake spud date - March 23, 2008

Providing coverage of Alaska and northern Canada's oil and gas industryMarch 2008

Vol. 13, No. 12

Week of March 23, 2008

Savant moves Kupcake spud date

Savant Alaska LLC has yet to spud its Kupcake No. 1 well offshore Alaska’s North Slope.

The Alaska subsidiary of Denver-based Savant Resources is planning to drill the well using the Kuukpik No. 5 rig on an artificial island in Foggy Island Bay, adjacent to BP’s Liberty project.

Savant is partnering on Kupcake with Bordeaux Energy Inc., a Canadian company with assets in offshore France. Savant also has an agreement with True North Energy Corp. out of Houston.

Under the deal, Savant would get drilling rights on a nearby lease if it successfully spud Kupcake before March 15, a deadline that wasn’t met.

“Those agreements are very fluid,” Erik Opstad, general manager of Savant Alaska, told Petroleum News March 18. “It’s a non-issue.”

—Eric Lidji

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