POST Online Media Lite Edition



 

Caelus claims Arctic oil discovery could be among Alaska’s biggest

Staff Writer |
Caelus Energy Alaska said it has made a “world-class” oil discovery that, if estimates prove true, could be one of the largest finds ever in Alaska.

Article continues below






The Smith Bay site, in shallow waters about 50 miles southeast of Barrow, could “provide 200,000 barrels per day of light, highly mobile oil,” the company said in a press release Tuesday.

If correct, that production level would make the field more prolific than ConocoPhillips’ Alpine unit that began production in 2000 and reached a production peak of 139,000 barrels in 2007.

The statement from Caelus does not indicate analysis by a third-party engineering firm. The estimates are the company’s internal numbers, a spokesman said Tuesday morning.


What to read next

Textron completes acquisition of Arctic Cat
Sky: That's enough. We have been overpaying Discovery for years
Discovery, Chipotle and CVS pay their CEOs thousand times more than workers