Posted on 02/20/2008 6:18:58 AM PST by thackney
Arctic Oil & Gas Corp., a petroleum exploration company, will develop its share of the extensive "Arctic Commons" claims of what may be one of the greatest oil and gas discoveries in history. The Company expects its legal claims to a portion of the prospect to be developed in partnership with both major integrated oil companies and large independent exploration companies.
Prospects to be explored in the arctic seabed are expected to far surpass the greatest nearby discovery, which is Alaska's Prudhoe Bay. The United States has produced over 12.8 billion barrels of oil from this area, which was discovered in 1968. The Wall Street Journal estimated that over 400 billion barrels of oil may be found and produced within the "Arctic Commons." The largest potential oil-gas sedimentary basins are adjacent to secure US Alaska and Canadian territories.
For the world's major independent oil companies, the Arctic Commons Claim represents a unique long-term opportunity to carve out an entire nation-sized remote frontier basin region for oil companies to operate in with lower taxes and imposts, possibly for centuries.
Arctic Oil & Gas Corp. will create a series of strategic exploration, drilling and development alliances in order to locate and develop the oil and gas resources within the Commons. The Company's management expects to finalize and announce a series of financial partnerships in the near future to provide the wherewithal to develop and drill the "Arctic Commons."
Peter Sterling, CEO of Arctic Oil & Gas Corporation, stated that, "In a world nearing a point when oil will be seriously scarce and expensive, Management believes that, subject to exploration proving successful, and with the help of increasing Canadian oil-sands resources supplies, the Arctic Commons Abyssal could contain enough oil and gas to provide America with perhaps 5-10 million barrels per day OEL, providing complete energy security at reasonable prices to North American Consumers for between 100 to 200 years. Thus the Arctic Commons abyssal is a potential US nation-saving energy resource that should be husbanded and protected vigorously."
What are the odds that we’ll actually use it?
What are the odds that Arctic Oil & Gas Corp will actually find any oil? I’m betting 10:1 against finding anything producible!
I’ll take that bet. Name your figure.
Would somebody please tell me what the difference is between drilling for the oil in Prudehoe Bay and drilling for the oil in ANWR?..............
Don’t bet against Thackney on oil matters..............
ANWR is under the control of the Federal Government.
If ANWR was under Alaska’s control, oil would have been flowing decades ago.
Before we bet offline, remember the Gulf of Alaska sure shot.
My bet is that the caribou will trump a chance for US oil independence.
Don't forget Jack#2 in 7000 ft of water with the test well yielding 6000 bpd with an estimated 3-15 billion barrels located their.
Is that why you're back in Texas now Thackney for the upgrade?
Politics.
Gulf of Alaska has not been opened to exploration by the Federal Government.
Parts of the Beaufort Sea and Chukchi Sea off the Northern Coast of Alaska are already out for leases and Shell has begun their exploration already.
When the government won’t stand in the way, we will find oil.
Family health issues was the main drive for us back at this time. We loved Alaska but there is a growing anti-development attitude driven by those in the lower 48 trying to make Alaska one giant park. More than 100 million acres isn't enough for some. They forget that Alaska was purchased for its resources and argue against land that was specifically set aside for oil exploration, like area 1002, the coastal plain of ANWR.
Plenty of work down here. I'm doing refinery upgrades these days. I have only done a very little offshore work, but my current company does a lot. In time I may get to see some of than, just not now.
The Saudis should give the Caribou an award for their work.
The Gulf of Alaska OCS was drilled extensively in the late 60’s and the 70’s and was a total bust!
I'll put up $1,000 against you, we'll put the money in an escrow account. Contact me via private email.
With our witless and gutless Congress, the odds are high that we will use it, but only foreign countries will be allowed to drill it.
Not to get into a pissing contest, but you said “Gulf of Alaska has not been opened to exploration by the Federal Government.” You then contradicted yourself by saying “I disagree with the claim it (Gulf of Alaska) was drilled “extensively”.” Please see http://www.mms.gov/alaska/fo/wellhistory/GOAWELLS.HTM that lists the 12 wells that were drilled. I admit 12 wells is a small number to cover the Gulf and not extensively as I said. I claim a Senior Moment, what’s your excuse? :>)
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