In mid-January 2020, Oil Search's Mitquq 1 NFW, presently being drilled on North Slope ADL 393876, has encountered 60m of hydrocarbon pay. The well intersected 5m of net gas pay, and 55m of net oil pay. No oil-water contact was encountered within the primary objective Nanushuk interval (separate from the Pikka Development Nanushuk reservoir). Once the well has intersected the Alpine C reservoir target and drilling has been completed, Mitquq 1 will then be sidetracked to re-penetrate and core the Nanushuk reservoir. A flow test will then be carried out, which will help to provide a more accurate estimate of net pay thickness and commercial viability. Test results are expected to be known in late March/early April 2020. Oil Search spudded the Mitquq 1 NFW on 25 December 2019, in North Slope ADL 393876, ~27km northeast of Nuiqsut and east of the Colville River. The well has a planned TD on adjacent block, ADL 393875, and is estimated to hold a resource potential of between 200-500 MMbbls. Mitquq 1 will test a Pikka Nanushuk analogue play and has potential secondary targets within the Torok, Kuparuk C and Alpine C reservoirs, to evaluate their exploration upsides. If successful, the well may be tied back to planned Pikka Unit infrastructure. On 2 January 2020, Oil Search completed acquisition of 51% equity in nine North Slope leases that were acquired by Repsol in 2018, namely ADLs 393873-393881, which encompasses these two Mitquq leases. The January 2020 acquisition completes part of Oil Search's US$ 64.3 million agreement with Repsol, which was reached in June 2019 in order to align ownership interests across several North Slope assets. Equity in ADLs 393875 and 393876 is now split between Oil Search (Alaska) (51% WI) and Respol E&P USA (49%).
Mitquq 1 nfw, (Oil Search 51% op, Repsol 49%) presently being drilled on North Slope ADL 393876, ab. 10km SE of Pikka Nanushuk Pad A, main target Nanushuk reached, logs suggest 60m net hc pay (55m oil + 5m gas), no OWC. 