Great Bear returns Badami WIO to ASRC

Kristen Nelson

Petroleum News

Activity reflected in the Alaska Division of Oil and Gas February lease report was focused at Badami on the eastern side of the North Slope and south of Nuiqsut on the west side.

At Badami, the division approved assignment by Great Bear Petroleum Ventures III LLC of 4 percent working interest in 11 tracts in the unit to ASRC Exploration LLC. The tracts had varying royalty interests and were tracts in which ASRC Exploration has assigned Great Bear a 4 percent WIO with a June effective date, approved by the division in August. The current assignments from Great Bear to ASRC Exploration had an effective date of Dec. 1.

Savant Alaska LLC, a Glacier Oil and Gas company, is the majority WIO and operator at Badami. Current unit lease ownership shows ASRC Exploration with a 25 percent WIO in most of the unit’s tracts, and Savant Alaska with a varying interest, from 57.5 to 67.5 percent in most of the unit’s tracts, although the company has no WIO in two tracts.

On the west side, south of Nuiqsut and adjacent to the National Petroleum Reserve-Alaska, J. Andrew Bachner assigned a 2.5 percent royalty interest in a two-lease block, ADL 392345 and ADL 392346, to Three Mountain Oil LLC with an effective date of Jan. 1. Bachner and Keith C. Forsgren assigned their respective 90 percent and 10 percent working interest ownership in the two leases to Repsol E&P USA Inc. with an effective date of Feb. 1.

- KRISTEN NELSON