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Thread: Huge Oil Find in Alaska
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13th March 2017 #1
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Huge Oil Find in Alaska
'Repsol Announces Largest U.S. Onshore Conventional Discovery In 30 Years'
Spanish company Repsol announced a find in Alaska that could be the largest “onshore conventional hydrocarbons discovery” made in the United States in the past thirty years, according to a new report by Oil and Gas Investor.
The company said on Thursday that it and partner firm Armstrong Energy had struck light oil in Alaska’s North Slope in the Nanushuk Play. The “emerging” field could hold up to 1.2 billion barrels, new results from Horseshoe No.1 and 1A wells show. Madrid-based Repsol holds a 25 percent interest in the Horseshoe discovery.
Plans for production development in the nearby Pikka field could potentially extract oil at a rate of 120,000 barrels per day by 2021.
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13th March 2017 #2
Bet the Ruskies are sick after selling Alaska for $7.2M. The Pikka field is pretty small potato though at 120K barrels per day when compared to Saudi which pumps up to 10 million barrels per day...
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13th March 2017 #3
I have a mate from Alaska..He says that all residents there get a share from oil revenues each year..Cash in the bank.. Very cool IMO!
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13th March 2017 #4
Same as Nigeria then...
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