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April 2018

Vol. 23, No.15 Week of April 15, 2018

88 Energy says Icewine 3-D work completed

Kristen Nelson

Petroleum News

88 Energy Ltd. said April 6 that its Icewine 3-D seismic survey was completed March 28, as was a second survey, over the Yukon Gold acreage the company acquired last year. The company said processing of data from initial areas of the Icewine acquisition has begun and some early products will be available in June.

The Icewine 3-D survey was designed to confirm leads identified in existing 2-D seismic and covered conventional targets on the western margin of the company’s North Slope acreage. Geokinetics Inc. was the contractor for the Icewine survey; that application was approved by the state in January.

88 Energy said plans for a farm-out ahead of the 2019 drilling season are underway, with the formal process expected to begin mid-year.

Accumulate Energy Alaska, which operates in Alaska for 88 Energy, has already secured multiyear permits for two well locations, Bravo and Charlie, in the 3-D acquisition area. The Alaska Division of Oil and Gas describes the objective of the wells, 22-25 miles west of the Franklin Bluffs pad, as a conventional Seabee formation play.

Yukon Gold

88 Energy said a second 3-D seismic survey was conducted in late March in an area of leases the company recently acquired which includes an existing well, Yukon Gold 1.

These tracts, south of Point Thomson and west of the Arctic National Wildlife Refuge, were acquired in the state’s 2017 North Slope areawide lease sale by 88 Energy subsidiary Regenerate Alaska Inc., which was the successful bidder on a block of some 32,800 gross acres, including the existing well, which was drilled by BP in 1993-94. That well was an oil discovery and the state has estimated recoverable reserves of some 120 million barrels.

The state approved an SAExploration application for the Yukon 3-D in February. The permit said the project included some 251 square miles of 3-D acquisition.

88 Energy said the Yukon Gold 3-D survey was fast tracked to take advantage of a seismic crew which was available in the latter part of the 2018 seismic season. Final processed products from the Yukon Gold shoot are expected in the fourth quarter.

Icewine testing

The company said it is finalizing planning for re-opening the Icewine No. 2 well for flow testing in the April-May timeframe, with exact timing dependent on warmer temperature. Drilling at Icewine No. 2 began in the second quarter of 2017, with production testing ongoing.

- KRISTEN NELSON





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