Union Texas Petroleum Alaska Corp. (Utpac), Houston, plans to begin this year phased exploration of native Alaskan acreage on Kenai Peninsula in South Central Alaska.
The 3 year exploration program is covered by Utpac's agreement with Cook Inlet Region Inc. (CIRI), Anchorage, an Alaskan native regional corporation.
Under the agreement, operator Utpac will have an initial 100% working interest and conduct exploration. Plans for early this year call for it to process and interpret about 1,100 line miles of 2D seismic data on more than 340,000 acres held by CIRI on the peninsula southwest of Anchorage. The agreement allows Utpac the option to acquire leases on prospects identified during the study and CIRI the option to participate in exploratory drilling and development programs.
After review of existing seismic and other technical data, Utpac might collect more seismic data later this year or in 1995. Encouraging results could prompt exploratory drilling as early as 1995 96.
Also in Alaska this year, Utpac plans to participate in two wildcats in the Colville River Delta region on the North Slope about 6 miles west of Kuparuk River field. Utpac holds working interests averaging about 14% in the Colville acreage, which is operated by ARCO Alaska Inc., Anchorage. The company also is part of an ARCO led group exploring the Beaufort Sea off northern Alaska.
Utpac is a subsidiary of Union Texas Petroleum Holdings Inc., also of Houston.
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