Operations
88 Energy has four projects in the North Slope of Alaska with a combined acreage of around 440,000 net acres
Project Peregrine
- ~195,973 acres, working interest 50%
- Acquired Q2 2020
- Farmed-out Q4 2020
- Q1 2021 Merlin-1 well drilled
- Net Mean prospective resources 1.6 BBOE*
Project Icewine
- ~193,000 net acreage, working interest ~75%
- Acquired 2D and 3D seismic
- Drilled 2 unconventional wells
- Drilled Charlie-1 conventional well – condensate discovery
- Mean prospective reserves 1.77 BBOE*
- Potential for Talitha-1 target extension onto Icewine East
Project Yukon
- ~38,681 acres, working interest 100%
- Prospective resources 90MMBO*
- Advanced discussion with nearby owners to unlock acreage potential
- Expanded lease holding with acquisition of Tract 29 acreage
Umiat Oil Field
- ~17,633, working interest 100%
- Acquired Q1 2021
- 2P reserves 94 MMBO**
- Strategic acquisition
- Historic oil discovery in 1945
- 60+ wells drilled
- Potential for development being assessed
88 Energy has a combined portfolio with 3.4 billion BOE* prospective resource and 2P reserves of 94 million barrels of oil**
* Net mean prospective resource
** Net Reserves to 88E Revenue Entitlement