Oil Search in Alaska discovery

USA

SYDNEY, January 17, 2019 – Oil Search has discovered hydrocarbons in an Alaska well, the Australian company announced on Thursday.

“The early results from the Pikka B well are very encouraging,” Peter Botten, the managing director of Oil Search, said in a statement. “The top Nanushuk reservoir was encountered slightly high to expectations, and a core has been successfully acquired over a 37-metre interval. Early interpretation of the core indicates a hydrocarbon-saturated, high-porosity sand.”

Oil search has a 25.5% stake in the Pikka Unit. Repsol holds 49% of the licence, while Armstrong Energy holds 19.1% and GMT Exploration Company owns 6.4%.