88 Energy is preparing to spud the Merlin-2 appraisal well within its Project Peregrine in Alaska.
The project is located in the NPR-A region of Alaska’s North Slope of Alaska and encompasses about 195,000 contiguous acres.
The company said it lies on trend to recent discoveries in a new play type in topset sands in the Nanushuk formation.
Merlin-2 is being drilled as a follow-up to Merlin-1, which was drilled in April last year.
Post-well evaluation of Merlin-1 demonstrated the presence of light oil in a trio of targets, with 41 feet of net log pay across the three reservoir intervals noted.
88 Energy said Merlin-2 was targeting a net entitlement mean prospective resource of 652 million barrels of oil.
With pre-spud operations nearing completion and the drilling rig mobilized to the appraisal well, spudding was scheduled for next week.
The well is permitted to a total depth of 8,000 feet and will be initially drilled to 2,000 feet where surface casing will be installed, and the blow-out preventer system tested.
88 Energy said a production test program for the Merlin-2 well has been designed and equipment placed on standby during initial well site operations.
For more information visit www.88energy.com