NEWS BULLETIN

March 23, 2020 --- Vol. 26, No.16March 2020

State approves Jade's plan for Sourdough

Last week Alaska's Division of Oil & Gas approved Jade Energy's second Plan of Development for Point Thomson unit's Area F, better known as the Sourdough prospect.

The second POD was filed on March 17 by Jade, the majority owner and operator of Point Thomson unit Tract 32, Area F, on ADL 343112. The eastern North Slope lease holds two mid-1990's Sourdough oil discovery wells that were drilled by BP, which estimated Sourdough held 100 million barrels of recoverable oil.

The essential difference in Jade's plan, which covers the period April 1, 2020, through Dec. 31, 2020, is to drill the first new Sourdough appraisal well, Jade 1, in the winter of 2021-22, versus next winter.

Division Director Tom Stokes told Petroleum News March 23 that during the discussions with Jade the issue of low oil prices never came up. Rather, the drilling delay was due to scheduling challenges, such as barging in equipment and ice road construction, which can only be done during very specific calendar windows.

- KAY CASHMAN

See full story in March 29 issue, available online Friday, March 27, at www.PetroleumNews.com

For information on PN's news bulletin service, call 907-522-9469.

PO Box 231647, Anchorage AK 99523-1647


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