By OGJ editors
HOUSTON, Nov. 25 -- A joint venture led by Brooks Range Petroleum Corp. is securing a drilling rig for a three-well winter exploration focused on Gwydyr Bay on Alaska’s Central North Slope.
The first well, to spud in early 2010, is Sak River-1A, designed to test a Cretaceous Kuparuk exploration prospect identified by proprietary 3D seismic data. The prospect is within the Brooks Range joint venture’s Beechy Point Unit, which has two oil discoveries that could be developed if the new well uncovers the expected reserve potential, said participant TG World Energy Corp., Calgary.
Contingent on results of the first well, TG Alaska may participate in a second 2010 exploration well, North Shore-3, in the unit’s North Shore exploration block. That well’s objective is to add to the oil volumes discovered in the North Shore-1 and Pete’s Wicked-1 wells.
North Shore-3 will be drilled from the North Shore-1 drill pad to test a 3D seismic prospect in the Jurassic Sag River and Triassic Ivishak formations.
“Should this well be successful, the JV participants believe that the additional reserves will exceed the threshold required for the proposed North Shore development project, allowing the project to be completed on a standalone basis, without requiring volumes from the potential Sak River discovery,” TG World said.
The joint venture is considering a third exploration well whose timing depends on the drilling time spent on the first two wells. It could spud in late 2010 or 2011.
TG Alaska is a participant in a joint venture with the Alaska Venture Capital Group LLC (AVCG), Ramshorn Investments Inc., and Dana Petroleum PLC on 240,000 gross acres in Alaska. Brooks Range Petroleum, a 100% subsidiary of AVCG, is operator.