88 Energy upgrades South Prudhoe resources

88 Energy Ltd. updated prospective resource estimates for its South Prudhoe Project on Alaska’s North Slope immediately south of the Prudhoe Bay Unit (PBU) and Kuparuk River Unit (KRU). An exploration well will be drilled this winter to validate one or more high‑quality reservoirs and materially de‑risk a large, stacked oil opportunity, the company said.

The estimated total gross unrisked 2U prospective resource for the project has been revised to 768.9 million bbl of oil and NGL confirming a substantial, multi-reservoir opportunity, the company continued.

The updated estimate follows further geophysical analysis of the Schrader Bluff 3D seismic velocity data and includes a maiden prospective resource for the Brookian reservoir interval with a prospective resource estimate of 181.5 million bbl within the South Prudhoe North-West Hub. The Brookian interval includes West Sak and Upper Schrader Bluff shallow reservoir targets.

The Ivishak reservoir within the Augusta prospect contains a 69.9 million bbl upgraded prospective resource. Ivishak is one of the main producing reservoirs within the Prudhoe Bay area. The Augusta prospect is defined across multiple stacked reservoir intervals, including Brookian, Kuparuk, and Ivishak targets, providing multiple potential pay zones within a single drilling opportunity.  At Augusta, the Ivishak target is supported by integrated seismic interpretation, regional well control, and calibration to nearby producing reservoir systems.

The upcoming Augusta-1 exploration well will test up to 133.7 million bbl of 2U gross unrisked prospective resources across these intervals. Augusta-1 well planning, permitting, and long lead procurement activities are advancing, including securing the Nordic Rig-3 to support exploration well drilling during the 2027 Alaskan winter season.

88 Energy holds 100% working interest in the South Prudhoe Project.