Newcomer Duke Oil & Gas-Alaska LLC joined the bevy of small companies and investor consortiums that clamored for tracts in Alaska’s Cook Inlet areawide oil and gas lease sale May 24, 2006. Its leases were finally issued on July 30, 2007.
The Boise, Idaho-based company hired a Juneau company to act as its agent and longtime Alaska oil patch executive and political activist Randy Ruedrich to serve as its “attorney in fact” for the lease sale.
In September 2007, Ruedrich told Petroleum News now that “the leases finally have been issued” he’s “talking to the principals” about the next step.
Duke won tracts 216 and 218, on the west side of the inlet, offering $75,514 and $86,458 for the two onshore parcels, respectively.
An independent, Duke is 100 percent owned by John Brad Duke of Star, Idaho, according to Division of Oil and Gas filings.
Tracts 216 and 218 are about 12 miles north of the Drift River Terminal near Bachatna Creek. Tract 216, in fact, has the Union-Bachatna Creek well on its border, a penetration drilled years ago presumably by Union Oil Co. of California, according to Matt Rader, a permitting specialist for the division.
The parcels also appear to be close to the 20-inch diameter Cook Inlet Pipeline, which is a good sign because any oil discovered there would be close to infrastructure, Rader said.
“The closest production is the West McArthur River and Redoubt Shoal oil fields which are about 24 miles to the northeast,” he added.