88 Energy (88E) , an oil and gas exploration company focused in Alaska, has mobilised its Nordic Rig #3, pictured above, towards its Winx-1 well site.
The news maintains 88 Energy’s, and their partner Red Emperor (RMP) , intended schedule for spudding around the 15th of February. As the rig is moved, additional equipment required for initiating the drill campaign is being brought to the well site.
The Winx-1 well, situated in the “highly successful” Nanushuk play fairway has a gross best estimate prospective oil resource of 400 million barrels of oil (with 144 million barrels net to 88E) across multiple stacked objectives. Any hydrocarbons discovery will see 36% net go to 88 Energy and 31.5% net to Red Emperor.
The notoriously prospective Alaskan region has maintained its reputation, with the first exploration well of the season, Pikka-B, reported a promising hydrocarbon encounter in the Nanushuk formation-- certainly encouraging news for 88 Energy and Red Emperor as they attempt to successfully target the same formation.
For more news and updates on 88 Energy and Red Emperor