North Slope, Alaska
Major discoveries and 88 Energy acreage map
- Independent estimate (Conventional)
- Armstrong, 2016
- Conoco, 2018
- Mean unrisked resource – Net Entitlement to 88 Energy
5. Please refer to cautionary statements
BBO: Billion barrels of oil
MMBBL: Million barrels of oil
* Approximate planned Merlin-2 appraisal well location
Quality Assets IN A WORLD CLASS LOCATION
88 Energy has four projects in the North Slope of Alaska with a combined acreage of around 440,000 net acres. We have a well-established, prolific oil province with an attractive fiscal regime.
Prolific Oil ProvInce
North Slope contains some of the largest oil fields in the U.S. Prudhoe Bay is the largest onshore oilfield in North America.
ACCESS to INFRASTRUCTURE
Attractive fiscal Regime
Relatively low royalty rates and attractive incentives for new oil production.
A supportive state
The energy industry is an important source of revenue and employment for Alaska.
Alaska North Slope Crude trading at premiums to WTI.
Compared to most basins, Alaska is relatively underexplored, with ~500 exploration wells on the North Slope.
A QUALITY PORTFOLIO
Within the North Slope, Alaska.
Operator with 100% working interest and ~195K acres
Umiat oil field
Operator with 100% working interest and ~18K acres
Operator with ~75% working interest and ~193K net acres
Operator with 100% working interest and ~39K net acres
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