The Explorers 2010: Savant Alaska

Savant has spent its entire tenure in Alaska focused on the eastern North Slope. The local subsidiary of Denver-based independent Savant Resources picked up leases in Foggy Island Bay in 2006. Savant called the oil prospect Kupcake and drilled an exploration well from an ice island in early 2008, but the well failed to uncover hydrocarbon resources worth pursuing. Savant re-emerged in late 2008, though. In a partnership with BP and Arctic Slope Regional Corp., the company planned to drill an exploration well at Badami, BP’s long-troubled eastern North Slope unit. Savant finished the B1-38 well at the Red Wolf prospect this past winter, finding oil, and drilled a new horizontal sidetrack to improve production at known reservoirs. Those wells, along with four others in the works, justified a plan to bring the Badami unit back online in October. Petroleum News sources said Savant is talking to potential drilling partners for the eastern North Slope, but company executives would not confirm the information. Savant does not have firm plans for development drilling in 2011, but also has not ruled it out. Savant Alaska holds nearly 11,500 acres of state onshore and offshore leases in its own right.

Current exploration focus:

Northern Alaska: Savant continues to explore and develop the Badami unit in the eastern North Slope to improve production at known fields and develop new reservoirs.

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