- 88 Energy (88E) wraps up ice pad construction ahead of spudding its Hickory-1 well on the central North Slope of Alaska
- The company is preparing to spud the well early next month and says so far, operations are on schedule
- Nordic Calista’s Rig-2 is expected to mobilise to site shortly, together with equipment and services relating to the well operations
- The well will appraise up to six conventional reservoir targets and is permitted to a total depth of up to 12,500 feet
- 88E shares are down 7.69 per cent to 1.2 cents at 11:18 am AEDT
88 Energy (88E) is wrapping up ice pad construction ahead of spudding its Hickory-1 well on the central North Slope of Alaska.
The company said the Nordic Calista Rig-2 was expected to mobilise to site shortly, together with equipment and services related to well operations.
88E plans to spud the well early next month and said so far, operations were on schedule.
The well is designed to appraise up to six conventional reservoir targets and is permitted to a total depth of up to 12,500 feet.
The initial surface hole is planned to be drilled to 3500 feet, with 9 5/8-inch surface casing installed and the blow-out preventer system tested.
The company anticipates this work to take two weeks to complete.
Drilling to total depth will follow and is expected to take a further two weeks, at which point a targeted wireline logging program is scheduled to begin.
The flow testing of the Hickory-1 well is planned during the 2023/24 winter season, subject to well results.
88E said this would provide “ample time”, subsequent to the drilling of the well, to optimise the flow test program, design, permitting and implementation.
88E shares were down 7.69 per cent to 1.2 cents at 11:18 am AEDT.