Dallas-based Caelus Energy Alaska LLC claims a large-scale oil discovery

[IsailedawayfromFR]

A Texas company says it has made a large-scale oil discovery in state waters off Alaska's North Slope.

Dallas-based Caelus Energy Alaska LLC says a subsidiary made a significant discovery on its state leases at Smith Bay. The discovery is based on two wells drilled this year and 126 square miles of three-dimensional seismic data.
The company estimates 6 billion barrels of oil under current leases and says the Smith Bay complex may hold 10 billion barrels.

More drilling and seismic work is planned to improve estimates.
http://www.dallasnews.com/business/energy/2016/10/04/dallas-based-caelus-energy-alaska-llc-claims-large-scale-oil-discovery

No production rates, type of crude in release.

This is one that sounds encouraging, but more info needed, such as are amounts oil in place or potential production?

Two wells so far. Need a lot more to claim billions of barrels as this is pure speculation.

Conventional exploration during such down times as we have now.

[thackney]

Light Oil, more details at:

http://www.alaskajournal.com/2016-10-04/6-billion-barrel-oil-discovery#.V_uohHNOnqA

. . . . . .

extensive sidewall coring and subsequent lab analyses confirm the presence of reservoir-quality sandstones containing light oil ranging from 40-45 degree API gravity.


http://www.oilandgas360.com/caelus-energy-confirms-large-scale-discovery-north-slope-alaska/

[Smokin Joe]

Light Oil, more details at:

http://www.alaskajournal.com/2016-10-04/6-billion-barrel-oil-discovery#.V_uohHNOnqA

. . . . . .

extensive sidewall coring and subsequent lab analyses confirm the presence of reservoir-quality sandstones containing light oil ranging from 40-45 degree API gravity.


http://www.oilandgas360.com/caelus-energy-confirms-large-scale-discovery-north-slope-alaska/

Keep the pipeline full, and marketable worldwide now. Good deal if the ecowhackos can be kept out of the way (They're busy in ND right now, about 1000 "protesters" camped out on the prairie, costing everyone else money, and likely to leave more mess than the pipeline will ever make.)

[geronl]

I never heard of this company.

[Smokin Joe]

I never heard of this company.

from their website: http://caelusenergy.com/

Caelus Energy, LLC, is a privately held independent exploration and production company that currently operates the Oooguruk field on the North Slope of Alaska. We specialize in exploration, development, and production of oil and gas. The company is currently focused on the pursuit, identification, and development of strategic opportunities across Alaska, and beyond. Caelus prides itself on its agility, state-of-the-art strategies and a unique approach to exploration and project development.

Headquartered in Dallas, with an office and operations in Alaska, the team at Caelus has earned a reputation of integrity and innovation, and is a leader in developing world-class operations.

[geronl]

from their website: http://caelusenergy.com/

They were founded in 2011 and are telling people they have "earned" a reputation.... if you have to tell people you earned respect, you probably didn't

[Smokin Joe]

They were founded in 2011 and are telling people they have "earned" a reputation.... if you have to tell people you earned respect, you probably didn't

They are new, and independent. They may well have earned a good rep in that time but it might not be well known. I did work for a smaller independent just before the Bakken boom started (in fact, we helped start it), and I loved it. Pity I couldn't buy stock (privately held). They sold out to a bigger company who in turn was purchased by a major, but I got to go along for the ride as a consultant. It was a good run, but the work was more fun and the drive to look at potential producing formations was far greater when it was the small privately owned company.

[IsailedawayfromFR]

They are new, and independent. They may well have earned a good rep in that time but it might not be well known. I did work for a smaller independent just before the Bakken boom started (in fact, we helped start it), and I loved it. Pity I couldn't buy stock (privately held). They sold out to a bigger company who in turn was purchased by a major, but I got to go along for the ride as a consultant. It was a good run, but the work was more fun and the drive to look at potential producing formations was far greater when it was the small privately owned company.

Fun, great work environment was what I also knew when I was a consultant for awhile for a small offshore company.

You just can't get that at the bigs.

[Smokin Joe]

Fun, great work environment was what I also knew when I was a consultant for awhile for a small offshore company.

You just can't get that at the bigs.

It was great, and how I ended up in on the Bakken boom very early. Working a vertical well (which turned out to be an infield discovery because they'd test Hydrocarbon shows instead of blow them off, I saw what I knew another company was looking at in the Bakken in that well. We came back after drilling another well, and twinned the first with their first Bakken horizontal (Elm Coulee Field, in MT). I worked one vertical well after that, and the rest were Bakken and then Three Forks wells for 14 years. We did a lot of experimenting back then, too, and that kept things interesting. Looking for a new ride, now. The Major who bought them out only counted the time I worked for them on my own, and not the 9 years working for another firm, so I got dropped with the rig. A lot of the office folks I had interfaced with retired or moved on, or didn't transition to the major.