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Vol. 15, No. 46 Week of November 14, 2010
Providing coverage of Alaska and northern Canada's oil and gas industry

The Explorers 2010: Armstrong Oil

Armstrong Oil and Gas introduced a business style to Alaska in late 2001, going after larger prospects passed over by majors BP and ConocoPhillips, the North Slope’s only producer-operators at the time. Armstrong drilled wells quickly and brought on partners who explored and eventually developed prospects. Using that strategy, the Denver-based independent brought Pioneer Natural Resources, Kerr-McGee and Eni Petroleum to Alaska, leading to the development of the Oooguruk, Nikaitchuq and Tuvaaq prospects.

Armstrong came to Alaska to look for oil on the North Slope, but since 2008 has focused on Kenai Peninsula natural gas. The company expects to bring the North Fork unit into production in early 2011, as soon as it completes a new pipeline system into the southern Kenai Peninsula. Armstrong also plans to drill more North Fork wells this year, including one to test oil prospects in the region. The company also continues to amass acreage on the North Slope through its subsidiary 70 & 148 LLC, picking up a block of leases south of the Kuparuk River unit and another block in the White Hills prospect, in addition to previously acquired state leases near the Oooguruk unit in the Beaufort Sea. Armstrong currently leases some 450,000 state acres, onshore and offshore across Alaska.

Current exploration focus:

Cook Inlet: Armstrong is leading a partnership developing the North Fork natural gas field in the southern Kenai Peninsula, and expects to bring the field online in early 2011.

Northern Alaska: Armstrong has acquired state acreage in the central North Slope and the Beaufort Sea, but has not yet announced any exploration or development plans.



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