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NEWS BULLETIN

October 31, 2022 --- Vol. 28, No.20October 2022

Latest on Bear 1; Armstrong weighs in

Since the Bear 1 story was published in the current issue of Petroleum News, more information has emerged.

In studying available maps and a G&G team's comments on the well, PN learned Bear 1 appears to be on trend with Oil Search (Alaska)'s 2020 Stirrup discovery.

Bear 1 will be approximately 12 miles south of Stirrup 1, which had one of the highest flow rates of any Nanushuk single-stage stimulation of a vertical well on the North Slope. Stirrup 1 successfully penetrated the Nanushuk reservoir and encountered an oil column with net pay of 75 feet. The wellbore was cored, perforated through a single-stage simulation and shut-in for six days to enable pressure build-up prior to testing in which Stirrup flowed at a stabilized rate of 3,520 barrels of oil per day,

As previously reported, ConocoPhillips Alaska Inc.'s President Erec Isaacson described CPAI's winter exploration well, the Bear 1, as a Brookian Topset play.

"A Brookian Topset is exactly what we drilled at Pikka, Horseshoe, Stirrup, Mitquq and … CP drilled at Willow. CP knows what they are doing. I give the Bear well a high chance of success based on what we know," Bill Armstrong said in response to a query from PN.

"This could be another huge field for the North Slope," Armstrong said, adding: "This is the best onshore conventional oil play on the planet. Nothing else comes even close."

The following information comes from CPAI's Lease Plan of Operations Application for the 2023 Bear Exploration Program filed with Alaska's Division of Oil and Gas. It wasn't made public until after the current issue of PN went to press.

* Bear 1 will be drilled by the Doyon Arctic Fox, or a similar rig.

* The project will begin on Jan. 15 and drilling will be completed by May 1, 2023, with summer activities continuing through Aug. 31, 2023.

* Bear 1 Drill Site, surface hole location and ice pad's Meridian, Township, Range and Section is U 006N 003E 1, and its GPS coordinates are 2 69.901293 N, 151.295279 W.

* First project milestone: Build DS-2P ice pad in Kuparuk unit, just north of the Kuparuk DS-2P gravel pad, start Jan. 20 and finish by Jan. 30.

* The SAExploration mobile camp at the drilling ice pad will have the capacity to accommodate approximately 130 people. Additionally, a second SAExploration camp located at DS-2P will accommodate 20 people.

- KAY CASHMAN

See full story in Nov. 6 issue of Petroleum News, available Thursday, Nov. 3, 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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