Eni said on 29 August 2018 that it is in the process of acquiring 124 exploration leases 1,416 sq km (~350,000 acres), located onshore in the Eastern North Slope region, from Caelus Alaska Exploration. The 124 leases encompass the following ADLs: 392677-392682, 392684, 392687-392702, 392834-392865, 392875-392876, 392878-392889, 392892-392897, 392899-392919, 392921-392944 and 392953-392957. Following the completion of the transaction, Eni will hold all the leases with a 100% WI. The Eastern Exploration Area (EEA) is sited to the southeast of the Prudhoe Bay oilfield, close to existing infrastructures and to the Trans-Alaska Pipeline System (TAPS). "The EEA is considered a prime area with high potential and multiple proven plays, between two of the largest hydrocarbon discoveries in North America," stated Eni, referring to Prudhoe Bay and Point Thompson. "Eni will apply its business model and experience through a fast-track exploration with a short time to market of the potential new discoveries, aimed at generating long-term value for all stakeholders and shareholders." <P />Eni has recently ramped up its activity on the North Slope, spudding the extended reach Nikaitchuq North 1 exploration well in late December 2017, due-north of the state leases in the Nikaitchuq Field, offshore the central North Slope and west of Prudhoe Bay. Eni is the first the company to drill a well in US waters off the north coast of Alaska since 2015. The AOGCC drilling permit states that the directional well heads north from Eni's Spy Island drill site and involves state leases ADL 388571, ADL 388574, ADL 388583 and ADL 391283 -- plus the Harrison Bay Block 6423 that lies in the Beaufort Sea federal outer continental shelf. Well results will determine whether Eni proceeds with a sidetrack this winter and a second well next winter. <P />Eni has been present in Alaska since August 2005, following the acquisition of 103 leases from Armstrong Oil & Gas in the North Slope area. In the Gulf of Mexico and in Alaska Eni currently holds a total of 109 leases. In Alaska, Eni is the operator (w/ 100% WI) of the Nikaitchuq Field, which commenced production in February 2011. Nikaitchuq produces from the same oil-bearing sands of the Late Cretaceous-aged Schrader Bluff Formation found at Prudhoe Bay, Kuparuk River and Milne Point. Eni also has a 30% participation in the Oooguruk Field, with a total net production of ~20,000 boe/d.
Eni (100%) has picked up 124 explo blocks from Caelus, totalling 1400kmÂ² on the Eastern North Slope. The area is known as the Eastern Exploration Area, located SE of the Prudhoe Bay oilfield and close to the Trans-Alaska Pipeline System.  