The Explorers 2009: FEX – Talisman Energy

FEX is the Alaska subsidiary of Canadian independent Talisman and is responsible for some of the most remote wildcats recently drilled in Alaska. Talisman arrived on the North Slope in 2003 and began drilling the following year as FEX, both alone and in partnership with the French company Total.

Searching in the far western lands of the National Petroleum Reserve-Alaska, FEX needed big finds to justify developing the remote regions, miles from the nearest infrastructure. The company announced a find in 2007, but executive changes at Talisman put a question mark on FEX’s activities in Alaska. The state made the cut in May 2008, and FEX began ramping up its operations again using a slate of seismic shot in recent years.

Recent comments from the company, however, suggest FEX won’t drill another well in Alaska any sooner than 2011. The company has no production in Alaska, but leases some 1.5 million federal acres.

FEX is also focusing on state prospects, adding acreage in each annual North Slope lease sale, starting in 2006. The company now leases more than 300,000 acres of state land in two clusters on the central North Slope. One prospect sits between the trans-Alaska oil pipeline and the White Hills prospect, and includes the 1960s Richfield Susie 1 well. The other prospect is southwest of White Hills and contains BP’s 1 Itkillik Unit well.

Current exploration focus