By OGJ editors
HOUSTON, July 1 – CNOOC Ltd.’s international subsidiary has made an undisclosed investment in Northern Cross (Yukon) Ltd. that will enable the private Calgary operator to fulfill work commitments under its existing exploration permits at Eagle Plain basin in Canada’s Yukon Territory.
Northern Cross said the work commitments are intended to further assess the oil and gas resource potential in the Eagle Plain area, where 34 wells have been drilled (OGJ, Feb. 20, 1995, p. 94).
Northern Cross owns and operates three significant discovery licenses and a total of 1.3 million acres in the basin. The SDLs include four wells, all drilled in the 1960s, that never achieved commercial production status.