Energy's Progress in Alaska: Hickory-1 Well Set to Spud in Late March - Trade Oracle

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Energy’s Progress in Alaska: Hickory-1 Well Set to Spud in Late March

Alaska’s 88 Energy is making waves with their latest venture: the Hickory-1 well is set to spud in late March 2021. This is an exciting development for the company, as it marks a major milestone in their progress in the region. With the potential to uncover significant resources, this well promises to be a game-changer for 88 Energy and the Alaskan oil and gas industry. Stay tuned for more updates on this exciting development.

88 Energy’s Progress in Alaska: An Overview

88 Energy’s progress in Alaska has been encouraging. The company has been granted permits to drill the Hickory-1 well, which is expected to spud in late March 2021. Furthermore, the company has raised A$17.5mln from domestic and international institutional and sophisticated investors. 88 Energy has also been awarded new acreage in Alaska, forming what the company refers to as ‘Project Leonis’. The explorer has now begun drilling the Hickory-1 exploration well and has successfully intersected the first three of its reservoir targets in the Hickory well, with well data indicating the presence of hydrocarbons. 88 Energy is now preparing to drill the next section of the well down to its three primary reservoir targets and has completed the installation of surface casing and a blow-out preventer. The nearby discoveries of 88 Energy have also been a great outcome for London-listed Alaska oil explorer Pantheon Resources. All in all, 88 Energy is making great progress in their exploration of oil and gas in Alaska and is confident that the Hickory-1 exploration well will be a success.

Project Leonis: 88 Energy’s Latest Acquisition

Project Leonis is 88 Energy’s latest acquisition in Alaska, and the company is hopeful that this new acreage will yield promising results. 88 Energy has already raised A$17.5mln from domestic and international institutional and sophisticated investors to support their exploration efforts in Project Leonis. Moreover, the company has obtained the necessary permits from the Alaska Department of Natural Resources to drill the Hickory-1 well, which is expected to spud in late March 2021. The nearby discoveries of 88 Energy have been a great outcome for London-listed Alaska oil explorer Pantheon Resources, and 88 Energy is now preparing to drill the next section of the well down to its three primary reservoir targets. With the installation of surface casing and a blow-out preventer complete, 88 Energy is confident that the Hickory-1 exploration well will be a success.

Hickory-1 Well Set to Spud: Preparing for Flow Testing

The Hickory-1 well is now set to spud in late March 2021 and 88 Energy is preparing for flow testing of the well. The explorer has raised A$17.5mln from domestic and international institutional and sophisticated investors and has completed the installation of surface casing and a blow-out preventer. The well has encountered multiple hydrocarbon-bearing pay zones across all of the explorer’s pre-drill targets and the nearby discoveries of 88 Energy have been a great outcome for London-listed Alaska oil explorer Pantheon Resources. The flow testing program is scheduled to begin as early as possible during the 2023/2024 Alaskan winter operational season and 88 Energy is confident that the Hickory-1 exploration well will be a success. With the necessary permits now in place and the well set to spud, 88 Energy is now one step closer to flow testing the Hickory-1 well and potentially unlocking a new source of oil and gas in Alaska.

As 88 Energy continues to make progress in Alaska, the company is set to spud the Hickory-1 well in late March 2021. This is a major milestone for the company and a testament to their commitment to developing the Alaska region. With the spudding of the Hickory-1 well, 88 Energy is poised to make significant progress in the region and create a brighter future for Alaska.

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