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Oil patch insider: Wolfpack offers mineral rights; Report focus on eastern Slope; 88E updates asset activity
Kay Cashman Petroleum News
Wolfpack Land Co. of Houston, Texas is offering 4,761 onshore acres of prime mineral interest ownership near Kenai, Alaska in the Cook Inlet basin for oil and gas leasing.
In the Beaver Loop Road area the company has listed approximately 3,116.49 acres, broken up into three parcels.
The first parcel, containing about1,063.51 acres, is in Township 5 North, Range 11 West. The second parcel of around 947.98 acres is in Township 6 North, Range 10 West. A third parcel in Township 6 North, Range 11 West has 1,105 acres, more or less.
In the Robinson Loop Road area Wolfpack is offering two parcels containing a total of approximately l,645.19 acres.
The first parcel, in Township 5 North, Range 9 West, holds about 926.23 acres. At Township 5 North, Range 10 West, a second parcel has roughly 718.96 acres.
Wolfpack is offering the fee simple mineral interest land at $3,000 per acre, with a 25 per cent overriding royalty.
“These fee mineral rights have significant known hydrocarbons on or very near them,” the company said, adding that the prospect is road accessible, winter and summer, with easy access to oilfield suppliers.
Seismic data is available.
For more details interested parties can contact Jim White at [email protected], [email protected] or (907) 394-9148.
- STEVE SUTHERLIN
New report focus on eastern North Slope Donkel Oil and Gas set a late May release for a comprehensive new report on the geology of the eastern North Slope, encompassing a number of Alaska state leases held by Dan Donkel and Sam Cade, according to Dan Donkel, the company's president.
Donkel and Cade hold two groups of leases, one north of Exxon's Point Thomson producing unit and another - commonly known as the Stinson prospect - north of the ANWR 1002 area and surrounding the Stinson No. 1 discovery well drilled by ARCO in 1989.
The Stinson No. 1 is on a 2,560-acre lease held by Andrew Bachner and Keith Forsgren.
The report, Geologic Assessment and Resource Evaluation of the Greater Point Thomson Region Eastern North Slope by Dr. Beverly Burns, is a compilation of information from reports and research commissioned by the company as well as publicly available data.
The area, including the Point Thomson field, has had more than 22 exploration wells drilled since 1977, the report said, adding that the Alaska State A1 well drilled by Exxon in 1975 - one of the first exploration wells in the region - found 120 feet of Tertiary “Flaxman Island” sandstones.
The region contains at least four distinctive play types, the Eocene sandstone, Paleocene sandstone, Neocomian sandstone, and Cambrian sandstone. Many leases contain vertically stacked plays, the report said, adding, “thin Paleocene sandstone laminae are charged throughout the Paleocene section in the Stinson No. 1 well, which may indicate that the well is located on the edge of a much larger Paleocene accumulation.”
Donkel told Petroleum News the Donkel/Cade leases have been put back on the market after a deal signed with a “small company” failed to close as scheduled on April 1.
- STEVE SUTHERLIN
88 Energy provides update on Alaska assets In a May 23 update, Perth-based 88 Energy says its North Slope Project Icewine conventional farm-out “continues to progress” with a preferred bidder. Approval is expected in June.
Icewine is operated by 88 Energy Alaska’s subsidiary Accumulate Energy Alaska.
88 Energy’s Yukon Gold leases, operated by subsidiary Regenerate Alaska on the border of the ANWR 1002 area, is being discussed with nearby lease owners to “optimize monetization” of oil discoveries in the vicinity.
“Good progress” has been made on integrating Winx-1 well results into the existing 3-D seismic for 88 Energy’s western block acreage. Subsidiary Captivate Energy Alaska has identified “additional data that will aid in the evaluation,” which will likely be completed towards the end of 2019.
In regard to Project Icewine unconventional, the company said “finalization of advanced analysis using state-of-the-art technology has significantly advanced the … understanding of the nature of the HRZ play,” confirming it is an “excellent source rock with good potential as an economic shale play.”
However, the thermal maturity window for HRZ volatile oil is at lower temperature than is typical. As a result, the Franklin Bluffs location is outside the fairway; still, more than half of the revised play fairway is in Project Icewine.
A soft farm-out process is underway.
- KAY CASHMAN
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