On 28 April 2020, Chevron USA completed acquisition of 4.9506% WI in ten contiguous Kuparuk River Unit leases from operator ConocoPhillips Alaska. The ten leases include North Slope ADLs 390434, 390505, 390506, 390697, 391908, 391909, 392113, 392157, 392158, 393883 & 393884. The transaction is effective as of 1 February 2020. The leases are sited ~5km due north from Oil Searchâs recent successful Mitquq 1 NFW, which spudded the well in ADL 393875 on 25 December 2019, with the "Nabors 7ES" rig and encountered 60m of hydrocarbon pay within the primary objective Nanushuk interval (separate from the Pikka Development Nanushuk reservoir) during January 2020, intersecting 5m of net gas pay and 55m of net oil pay. No oil-water contact was encountered. Mitquq 1 also encountered 16m of hydrocarbon pay in its secondary Alpine C target, after having been drilled to a TD of 2,472m, encompassing 10m of net oil pay and 6m of net gas pay. Following completion of the transaction, equity in the aforementioned ten leases is now shared between ConocoPhillips Alaska (95.0494% WI + Op) and Chevron USA (4.9506%).
Chevron USA completed acquisition of 4.9506% WI in ten contiguous Kuparuk River Unit leases from operator ConocoPhillips Alaska. The ten leases include North Slope ADLs 390434, 390505, 390506, 390697, 391908, 391909, 392113, 392157, 392158, 393883 & 393884. 