A company representative from Glacier Oil & Gas confirmed that its oil wells in the eastern North Slope Badami unit have been "suspended due to current economic conditions," but the company is continuing to operate the Nutaaq pipeline between Badami and Endicott.
Glacier is also halting oil production from two Cook Inlet oil fields, West McArthur River and Redoubt Shoal.
But the company is not suspending output from its North Fork natural gas field in the Cook Inlet basin.
Glacier was created in early 2016 through the bankruptcy proceedings of Tennessee-based Miller Energy Resources Inc.
Unlike its predecessor, which had quickly acquired multiple oil and gas assets in Alaska and eventually became overextend when commodity prices dropped, Glacier has been taking a gradual approach by concentrating on maintenance activities to improve operations at its fields.
In 2018 the company drilled its first Alaska exploration well in the Starfish prospect between the Badami sands participating area and Point Thomson.
Starfish proved a success, confirming the oil-bearing Killian formation which was missed by previous explorers.
Savant Alaska and Cook Inlet Energy are Glacier companies.
- KAY CASHMAN
See full story in May 10 issue, available online Friday, May 8 at www.PetroleumNews.com
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