06222018Fri
Last updateFri, 22 Jun 2018 2pm

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Biggest U.S. Onshore Oil Discovery in 30 Years Found

Repsol and partner Armstrong Energy have made in Alaska the largest U.S. onshore conventional hydrocarbons discovery in 30 years. The Horseshoe-1 and 1A wells drilled during the 2016-2017 winter campaign confirm the Nanushuk play as a significant emerging play in Alaska’s North Slope.

The contingent resources identified with the existing data in Repsol and Armstrong Energy’s blocks in the Nanushuk play in Alaska could amount to approximately 1.2 billion barrels of recoverable light oil.

The Horseshoe discovery extends the Nanushuk play more than 20 miles south of the existing discoveries achieved by Repsol and Armstrong in the same interval within the Pikka Unit during 2014 and 2015, where permitting for development activities are underway. A significant percentage of the above noted resources are expected to be reclassified as proven and probable reserves upon sanctioning of the Nanushuk Development Project. 

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