Forest Oil drills record well in Redoubt Shoal; estimates reserves at 100 million bbl

By the OGJ editors
HOUSTON, Apr. 16 -- Forest Oil Corp., Denver, announced the Redoubt No. 4 delineation well in Redoubt Shoal field was drilled to 20,203 ft, making it the deepest deviated well drilled in the Cook Inlet of Alaska.

Designed to determine the downdip limit of the field, Redoubt No. 4 extended the deepest known oil pay by 50 ft without encountering the oil-water interface. Forest estimated oil reserves in Redoubt Shoal will be at least 100 million bbl (85 million bbl net).

The well encountered the Hemlock formation at 18,872 ft and logged 229 ft of net oil pay. Forest currently is completing the well.

The well also encountered 589 ft of net natural gas pay in multiple shallow sands. This discovery will be further delineated during development drilling.

Forest plans to spud the Redoubt No. 5 within the next month to define the western limit of the oil accumulation and to further delineate the extent of the natural gas field. Forest confirmed that the Redoubt Shoal field development is on schedule for first production by the end of 2002, subject to regulatory approval.

Forest owns 100% of Redoubt Shoal field. The Redoubt No. 4 delineation well, along with drilling in other regions, has enabled Forest in the first quarter of 2002 to more than replace its currently forecasted production for the entire year.

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