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Focused on maintenance, able-bodied workovers and looks to do added conduct into abounding Killian sands
Glacier Oil and Gas Corp., which is alone focused on oil and gas fields in Alaskas Cook Inlet basin and on the Arctic Slope, is continuing to move advanced on two fronts in the state: 1. aliment and able-bodied workovers at its four bearing units, and 2. added analysis and appraisement conduct of the oil-bearing Cretaceous Killian breach in its eastern Arctic Slope Badami unit. The accumulation was absent by antecedent operators but accepted by Glacier in 2018 drilling.
That year the Houston independents basic spending was about $20 million, admitting in 2019 it appears to be afterpiece to $8-10 million. The aberration is the amount of conduct the 2018 analysis able-bodied into the Killian bank in Badamis Starfish prospect.
Savant Alaska LLC, a Glacier company, able the Starfish B1-07 able-bodied to analysis the Killian interval, which is a turbidite sandstone backlog that sits anon aloft the oil antecedent bedrock and beneath the Brookian bank that anatomy the basic backlog for the field.
With a 15-month payout the able-bodied was promptly put online. In mid-May 2018, B1-07 produced 2,500 barrels of per day in aboriginal testing, cone-shaped off to 1,600 bpd by January 2019.
$200M over 3-4 years
The amount and amount tag of that affairs apprenticed the baby absolute to activate a chase for investors.
It makes aught bread-and-butter faculty to assignment one able-bodied at a time except to prove a abstraction (e.g., the Starfish/B1-07 well). To advance the Badami acreage in the best anxious way, we charge to assignment several wells over several conduct seasons, which after-effects in a adequately cogent basic outlay. Given the breakthrough required, Glacier is gluttonous investors to advice armamentarium the conduct program, Elliott told PN in an Aug. 27, 2019, email.
In affairs of development filed with the Alaska Department of Accustomed Resources Analysis of Oil and Gas for Badami, Glacier describes Starfish as one of several new ambition pods of interest articular through a geologic and geophysical analysis of the Badami and Killian sands.
Until Glacier can accompany in an investor, no new wells are accepted to be able in 2019, per Elliott. He additionally said Glacier continues to appraise the after-effects of B1-07, which accept been absolute to-date.
Glacier in Alaska
Unlike its predecessor, which had bound acquired assorted oil and gas assets in Alaska and eventually became overextend back commodity prices dropped, Glacier has been demography a bit-by-bit access by apperception on aliment activities to advance operations at absolute wells and reserving its beyond assets for targeted analysis prospects, starting with Starfish.
The four Alaska oil and gas units endemic and operated by Glacier companies Savant and Cook Inlet Energy, or CIE, are as follows:
Badami assemblage (Savant);
West McArthur River (CIE);
Redoubt Shoal (CIE);
Arctic Fork (CIE).
Whereas the Badami, Redoubt and West McArthur units mainly aftermath oil, Arctic Fork is a accustomed gas field.
Badami ambiguous for BP
Conoco Inc., antecedent to ConocoPhillips, apparent the Badami oil basin in 1990 and BP brought the oil acreage into assembly in August 1998.
From about the beginning, the circuitous cartography involving the compartmentalization of the oil backlog into multiple, detached beach bodies rendered the Badami assemblage arduous to produce. Oil achievement beneath acutely absolutely aboriginal in acreage activity – BP abeyant assembly on three occasions, with the added abeyance abiding for two years. Acreage abeyance accustomed the backlog burden to recharge, as subsurface oil boring migrated amid the assorted beach units.
Oil assembly ailing a ages afterwards startup at some 7,450 bpd but anon began to drop, falling as low as 876 bpd by August 2007.
Savant, ASRC access Badami
The ally acquired the acreage absolute in aboriginal 2012, followed by the Badami activity system, which BP awash to Nutaaq Activity LLC, a 67.5/32.5% affiliation of Savant and ASRC in 2014.
Miller bankrupt on the acquirement of Savant in December 2014, acceptable majority buyer of the unit. As the accord was affective against closing, oil prices fell by added than half, which acutely challenged the economics of an already circuitous operating environment.
Savant, and again Miller, absitively to adjourn abundant of the development plan categorical for 2014 and aboriginal 2015. Millers defalcation added disrupted affairs and Savant and Badami became allotment of Glacier in 2016.
East Mikkelsen prospect
Instead, in March 2013, DNR agreed to accommodate alone portions of two of the seven leases, some 2,204 acreage from ADL 391001 and ADL 390825.
The leases were set to expire on Jan. 31 and Feb. 29, 2012, respectively, but were connected by unitization proceedings.
The 2013 cardinal additionally accustomed an analysis plan that adapted Savant to assignment a directional able-bodied through the absolute Canning accumulation and into the basal Hue shale to appraise the abeyant of the hydrocarbon-bearing Killian bank encountered in the East Mikkelsen Bay No. 1 able-bodied able in 1971 by ExxonMobil antecedent Humble Oil & Refining Co. (Humble had able the able-bodied to a absolute abyss of 15,205 anxiety and encountered hydrocarbons in the Killian sandstone breach amid 11,516 anxiety and 11,572 feet, abstinent depth, with a activated breeze amount of 700 bpd of 24 amount API oil.)
Savant would accept bare to complete the well, accomplish an connected analysis and present the after-effects of the analysis to the accompaniment by June 30, 2014. If the conduct was successful, East Mikkelsen would be developed accordingly with the absolute Badami unit.
Savant appealed the cardinal in April 2013, adage it bare all seven leases to finer assay the prospect. To abode the awaiting conduct deadline, Savant additionally requested a break of its plan of analysis in August 2013.
The aggregation said it would analysis all abeyant targets alfresco the Badami bank accommodating area, including, but not bound to, the Killian bank on the east ancillary of the unit and intends to abide analysis to absolutely assay the assemblage breadth as bread-and-butter altitude warrant, and already the assemblage amplification address affair is resolved.
Although there has been alternate paperwork surfacing amid Savant and DNR, the assemblage amplification address has not been absitively as of Sept. 27, 2019.
New pad for Badami
Glacier promised to do the afterward during the appellation of the POD, which is July 16, 2019, through July 15, 2020:
Apply for a admittance to assemble a new Badami conduct pad, the Dock Pad, which will be the apparent conduct pad for added Killian wells able against the eastern ancillary of the Badami unit.
The B1-01 able-bodied workover will accommodate affairs and replacing tubing; Savant additionally will run a case analysis log for appraisal purposes.
Convert the B1-14 able-bodied to a gas bang account well.
Savant said these operations would occur during the added and third abode of the 2019 POD period.
In the June 17 approval letter acting analysis Director James Beckham wrote, The analysis charcoal encouraged by Savants connected efforts to advance the Badami units assets and looks advanced to added absolute assembly development soon.
In May 2019, the Badami assemblage averaged 1,721 bpd, bottomward 26.7% from a June 2018 boilerplate of 2,180 bpd.
Glaciers added two oil fields on the west ancillary of Cook Inlet, West McArthur River and Redoubt Shoal, respectively, averaged 553 bpd and 1,191 bpd in May 2019.
North Fork a baby gas field
The Denver-based absolute began carrying accustomed gas from the Arctic Fork assemblage into the Enstar Accustomed Gas arrangement in March 2011.
In 2013, CIE purchased the field.
In its accepted POD, which covers March 31, 2019, through March 30 of 2020, the aggregation said it plans to enhance assembly from currently bearing wells through basement improvements, including added compression and break facilities.
CIE will additionally abide to adviser and assay assembly from absolute wells and optimize production, including ecology baptize volumes and converting a depleted ambassador for baptize auctioning if necessary.
If abstracts and bazaar altitude warrant, CIE said it will abide development conduct to absolutely abut and advance all accountability blocks aural the accepted unit.
The aggregation said it is additionally because reprocessing Arctic Fork 3D seismic to enhance resolution for accessible added development activities.
It will additionally abide to appraise conduct wells alfresco the accepted boundaries of the Arctic Fork Gas Basin No. 1 accommodating area.
From December 2017 through November 2018, gas assembly from the fields bristles bearing wells totaled 1.74 actor mcf, with account assembly alignment from a aerial of 164,934 mcf to a low of 129,544 mcf.
Enhancing West McArthur output
There are three bearing wells in the unit, two in the Breadth No. 1 accommodating breadth and one in the Sword PA.
Activities in the 27th POD included connected allegory of assembly aural the 1991 WMRU No. 1 analysis able-bodied and acceptable assembly through breach adds, able-bodied workovers and pump replacements.
CIE said it continues to adviser assembly to aerate uptime and conducted small access and able-bodied aliment operations to prolong acreage life during the 27th POD, commutual all operations discussed in that POD.
For the 28th POD, CIE said it will advance an outstanding bloom assurance and ambiance almanac at the assemblage and continue to assay means to enhance production, administer assembly decline, and access absolute ultimate accretion from absolute wells.
CIE said it has filed a admittance appeal with the Alaska Oil and Gas Conservation Commission to actuate of produced baptize by converting shut-in wells to produced baptize auctioning wells. Four shut-in wells are listed in the POD.
The aggregation told the analysis it continues to admittance conduct affairs for the Sabre adopted analysis prospect. CIE said it was gluttonous ally in Sabre, although the aggregation is added focused on Badami and the Killian sands.
CIE said it would abide to assay assembly from all wells aural the assemblage and enhance assembly as adapted through breach adds aural wells, able-bodied workovers and pump replacements.
Redoubt Shoal activities
The latest Redoubt POD beneath Glaciers CIE is the 19th for the assemblage and covers May 1, 2019, to April 30, 2020.
Reporting on assignment able beneath the 18th POD, CIE told the analysis it had proposed analytical after-effects of accepted and planned added accretion deluge and converting added nonproducing wells to deluge if appropriate; conduct and aesthetic a apprehend of the RU-4A able-bodied for use as deluge injection; and alteration out the bootless electric submersible pump in the RU-9 able-bodied and aesthetic that able-bodied as needed.
The aggregation said it monitors Redoubt deluge circadian but did not complete the apprehend of RU-4A, deferring that activity to the added division of 2019. It deferred alteration out the bootless ESP in the RU-9 able-bodied to the third division of 2020.
For the 19th POD, CIE said it affairs to apprehend the RU-6 and use it as a baptize bang well, assignment which would alter the companys plan in the 18th POD to apprehend the RU-4A.
The aggregation said it anticipates the ESP in RU-2 will abort in 2019 and affairs to alter it in affiliation with the RU-6 sidetrack.
Results of added accretion deluge efforts will be examined, CIE said, and added nonproducing wells ability be adapted to baptize injection.
Glacier said it is alive on affairs for wells to appraise oil and gas abeyant arctic of the Redoubt Northern Accountability Block and would resume affairs to assignment back bread-and-butter altitude absolve that work.
In the abutting year the aggregation said it affairs to assignment and activate a apprehend to RU-6 and use that apprehend as a deluge bang able-bodied to added enhance production, and is because affairs for added produced baptize disposal.
Redoubt is a complete acreage and we are extensive the applied absolute for baptize auctioning application currently accessible methods, CIE said, abacus that it is because alternatives to acquiesce connected assembly to the bread-and-butter absolute of the field.
The aggregation additionally affairs accessory modifications to the Osprey belvedere and abacus additional amplitude for apparent ESP abutment equipment.
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