The Explorers 2009: Rutter & Wilbanks Corp.
Over its five years in Alaska, the Texas-based independent Rutter and Wilbanks has been persistent in the face of continued challenges, but its future in the state is now more uncertain than ever.
Rutter arrived in Alaska in 2004, taking a farm-out option on leases in the Copper River basin that hadn’t been explored in years, but faced obstacles each time it tried to develop gas resources in the region. In 2005, the company hit high pressure with the Ahtna 1-19 well. In the fall of 2006, the company got stuck again on its second attempt to drill. A 2007 sidetrack called Ahtna 1-19A found gas, but the gas came with excessive amounts of water that challenged the viability of the well.
In order to focus on Glennallen, Rutter pulled back from two other projects in the state, the Umiat oil prospect along the Colville River and the Northern Lights gas prospect in the waters of the upper Cook Inlet.
The company hoped to drill again at Glennallen in 2008, but trouble landing a rig forced another delay. Rutter finally drilled another sidetrack in early September, but by the end of the month announced that it had given up on the Copper River basin after spending more than $20 million over five years. The company hasn’t said whether or it will remain in Alaska. As of early September, the company still leased some 1,580 acres in the state. The company does not produce in Alaska.
Current exploration focus Basins of the Alaska Interior: has just completed an unsuccessful wildcat gas well near Nenana in the Copper River Basin.
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