88 Energy finds oil in Alaska’s North Slope

88 Energy Ltd., Perth, confirmed the presence of multiple hydrocarbon-bearing zones across all the pre-drill targets in its Hickory-1 well in the Project Phoenix program on the North Slope of Alaska. Drilling also found a new upper SFS reservoir.

The company has now completed a full suite of wireline logging runs and sidewall coring and is currently planning a flow test program.

Wireline logging data suggests an estimated net pay of 450 ft across all pay zones at depths of 7,700-10,500 ft. Gross estimated pay is estimated to be over 2,000 ft, better than pre-drill expectations.

Average total porosity across all zones is 9-12%, including key zones identified for potential testing in the Upper and Lower SFS reservoirs with 11-16% total porosity.

Retrieved sidewall cores fluoresced under ultraviolet light and will be sent to a laboratory in Anchorage for detailed analysis.

A preliminary petrophysical comparison of the Hickory-1 prospective zones against the interval that flowed oil in Pantheon’s Alkaid-1 wildcat in a neighboring permit to the north has indicated favorable potential for successful flow tests from multiple zones in Hickory-1, the company said.

Pantheon’s four wells have all flowed 35-40 degree API oil from similar sandstones.

88 Energy will now case and suspend Hickory-1 in preparation for flow testing scheduled for as early as possible in the 2023/24 winter season. A detailed evaluation of the data gathered so far will be made to plan the test program.

Hickory-1 lies in state lands adjacent to the Dalton Highway and the Trans Alaska pipeline within lease ADL 392314. The well was spudded Mar. 9 and drilled to a total depth of 10,650 ft.

88 Energy holds 75% interest and is operator of the Project Phoenix area.

The company’s earlier well, Icewine-1, encountered 380 ft of net oil pay within the SMD sands.