Unocal to Begin Drilling Happy Valley Well in June

Unocal will spud its Happy Valley No. 1 exploration well in late June in hopes of increasing its natural gas reserves in the area. The well is located seven miles southeast of Ninikchik, on the Kenai Peninsula, Alaksa. The company will use Nabors Alaska Drilling Co. Rig 129 to drill the well.

In late 2001 and early 2002 the company drilled three unsuccessful exploration wells in the same area. There were shows of gas detected in the wells but none of them capable of commercial production. The new Happy Valley well is on surface land owned by Ninilchik Native Corp., with the subsurface owned by Cook Inlet Region, Inc.