Alaska Crude prepares to re-enter Moose Point No. 1

Alaska Crude Corp. is about to re-enter the Moose Point No. 1 well, in privately owned land near the northern end of the North Kenai Road on Alaska’s Kenai Peninsula.

“The drilling will probably start next month,” Bruce Webb, vice president, regulatory affairs, for Alaska Crude Corp, told Petroleum News. “… Right now we’re digging a trench around the pad to keep the pad drained.”

The company has two drilling rigs, either one of which can do the drilling.

“Everything is out there except the choke manifolds and the blowout preventer,” Webb said, adding that the company expects to obtain those two remaining items in the next couple of weeks. All of the required permits are in place, Webb said.

Amorex Inc. drilled the Moose Point No. 1 well in 1978 to a depth of 10,058 feet. The well had a gas show but Amorex was exploring for oil, Webb said.

Alaska Crude hopes to find commercial quantities of natural gas and has been negotiating with Agrium as a possible purchaser for the gas, he said.

The well is fairly near the ConocoPhillips gas line from the North Cook Inlet field to Nikiski and penetrates a known structure that Webb described as a faulted nose off the Swanson River field.

Alaska Crude is a small independent oil company headed by Jim White, a long-time oil and gas investor in Alaska leases.

—Alan Bailey