88 Energy Recovers Lost Time at Icewine #1, Encounters Oil Shows

88 Energy announced Friday that “substantial” lost time caused by equipment delays at the Icewine #1 exploration well, onshore Alaska, has already been recovered.

Delays were experienced at the well in the beginning of November due to the replacement of faulty equipment associated with the blowout preventer (BOP), which pushed back the BOP test by three days. A replacement mud pump was also required and was sourced and tied-in within 24 hours, resulting in increased pump capacity over and above the original capacity and improved drilling capability.

Managing Director of 88 Energy Limited, Dave Wall, commented in a company statement:

“Whilst the issues with the BOP and mud pump caused minor delays to the schedule, the well remains well within the budget and substantial lost time has already been clawed back while drilling the intermediate section, which includes potential remaining conventional zones of interest in the Brookian sequence. The crew has done a great job at expediting the necessary repairs and we are now making excellent progress through the Brookian and towards the primary objective in the HRZ.”

The Icewine #1 well, which was spud October 22, will be drilled to a total depth of 11,600 feet and drilling operations will take approximately 30 days to complete. 88 Energy has stated that multiple oil shows have already been recorded at the well, however, on first analysis, these were interpreted as being of minor significance.



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