Spain’s Repsol said Tuesday that its Qugruk 8 and Qugruk 301 onshore Alaska wells delivered “better-than-expected” test results.
Repsol completed testing at the two wells during its winter exploration campaign in Alaska with “better-than-expected” yields of “good quality” crude.
The Qugruk 8 (Q-8) well flowed 30 degree API gravity crude at rates of up to 2,160 barrels of oil per day.
The Qugruk 301 (Q-301) horizontal well yielded rates as high as 4,600 barrels of oil per day.
The company said the finds add to the “positive results from previous campaigns” and “confirm the significant development potential of the area.”
The campaign brings the number of positive well tests at Repsol’s North Slope acreage to 16 wells, including sidetracks.
Repsol has completed four winter exploratory campaigns at North Slope since acquiring the assets in 2011.
Exploration activities at the site can only be carried out during four months of the year, when the terrain is frozen.
Repsol operates the discovering consortium with a 70 percent stake.
70 & 48 LLC, a subsidiary of Armstrong Oil and Gas, holds a 22.5 percent stake and GMT Exploration Company holds a 7.5 percent stake.
The consortium will conduct an additional drilling program next winter and has already begun the process to obtain permits for a development phase in the Nanushuk and Alpine areas.
“The positive news from this year’s exploration campaign, combined with the recent changes in the state’s tax structure, make Alaska a compelling area to continue to invest and generate the potential for development,” Repsol’s executive vice president of exploration and production Luis Cabra said.