Fox Petroleum acquires Cook Inlet leases

London-based Fox Petroleum Inc. said Oct. 25 that it has “signed an agreement to acquire approximately 42,000 acres” of oil and gas leases in the Cook Inlet region. Fox announced acquisition of some 32,000 acres of North Slope oil and gas leases in July. The North Slope leases were acquired from Samuel H. Cade (75 percent) and Daniel K. Donkel (25 percent).

Fox did not identify the current owner of the eight Cook Inlet leases but described them as “high-impact gas prospects in the Kenai Peninsula region of Alaska’s Cook Inlet.” Fox said the leases are onshore “and are in close proximity to many major production sites.”

The company said two wells, “the BA Bell Island well and the Unocal Figure Eight well, drilled on the structure downdip demonstrated gas shows.”

Alaska Oil and Gas Conservation Commission records show the British American Oil Bell Island 1 was a vertical well with a total depth of 11,365 feet, drilled and plugged and abandoned in 1962. That well is on lease ADL 390752 on the Susitna River the west side of Cook Inlet in section 12, township 15 north, range 7 west, Seward Meridian. The Union Oil Company of California Figure Eight Unit 1 well was a 10,660-foot vertical hole drilled and plugged and abandoned in 1976 in section 15-T15N-R6W, SM. This lease, ADL 390750, is due east of the first lease. Five leases in this immediate area are held by various percentages by Cade and Donkel, several in partnership with Monte Allen.

—Petroleum News