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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.

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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.

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