APA Corp. and its companions have declared a “vital” petroleum discovery within the Lagniappe space on Alaska’s North Slope.
Drilled to about 10,500 toes, the Sockeye-2 nicely “encountered a high-quality reservoir with roughly 25 toes of internet oil pay in a single blocky, Paleocene-aged sand with a median porosity of 20 %”, Houston, Texas-based APA mentioned in an internet assertion.
“As in comparison with current regional discipline analogs within the Brookian play, the porosity and permeability are each higher than anticipated, with the permeability to be confirmed by way of a deliberate move take a look at”, the oil and gasoline explorer and producer mentioned. “Further zones of potential pay have been additionally encountered within the shallower Staines Tongue formation.
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“The Sockeye prospect is amplitude supported throughout 25,000 to 30,000 acres, and confirms the companions’ geologic and geophysical fashions, derisking quite a few extra prospects within the space.
“Wireline logging is full and extra information assortment is underway, together with buying core and move testing the nicely”.
APA holds a 50 % stake within the leasehold by way of subsidiary Apache Corp. Operator Lagniappe Alaska LLC of Armstrong Oil & Gasoline Inc. owns 25 %. Santos Ltd. has the remaining 25 %.
Sockeye-2 is the second profitable exploratory nicely drilled by the consortium on their 325,411-acre place on state lands. The primary discovery, King Road-1, struck oil in two Brookian zones.
“The Sockeye-2 nicely additional demonstrates the potential of the play, presenting an thrilling alternative in an energetic space of the North Slope with vital present infrastructure”, commented Invoice Armstrong, chief government of Armstrong Oil & Gasoline.
The leasehold sits east of Prudhoe Bay, one of many largest oilfields in america.
In a separate assertion, Santos mentioned, “The exploration nicely price is carried by APA as a part of a 2023 farm-in settlement”.
On a separate upstream growth in Alaska, Santos additionally mentioned part 1 of the Pikka oilfield has reached 80 % completion.
“Pipeline set up is progressing nicely and set to be accomplished in two winter seasons, placing us in a very good place to pursue acceleration to first oil across the finish of 2025”, mentioned Bruce Dingeman, Santos president for Alaska. “This will probably be depending on logistics and climate permitting for the mobilization of key manufacturing fashions by barge up the Hay River. Till we now have extra certainty, steering stays unchanged with first oil in mid-2026”.
Pikka’s part 1 might ship 80,000 barrels of oil a day at full manufacturing, based on Santos.
“Santos stays dedicated to disciplined funding within the Alaska belongings to ship worth for shareholders, delivering secure and environment friendly operations whereas advancing key growth milestones”, Santos mentioned.
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