Deciding on best partner
20.05.12
Deciding on best partner
New shale player Royale hopes to drill up to six North Slope wells next winter
Kay Cashman
Petroleum News
Grab a drilling rig while you can or order one built because the second new player to target oil in North Slope source rocks is planning to drill up to six evaluation wells next winter, two on each of its three lease blocks.
But before it puts together a drilling and testing program to evaluate oil production from source rocks in its Alaska leases, Royale Energy Inc. has to decide on the best partner for its northernmost venture. Fortunately, it says it has several to choose from.
The San Diego-based company first entered the state when it was high bidder on more than 100,000 acres in the state of Alaskas Dec. 7 North Slope lease sale.
The acreage has some conventional oil potential in the Brookian and Beaufortian in Royales western block
Source: Petroleum News