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Project Icewine

While shale in the lower 48 has slowed because of the low oil prices, in Alaska, shale is hitting new frontiers with 88 Energy’s Project Icewine. This is a project to uncover a significant new shale play. One that could possibly be as big as the Marcellus or Utica Shales. Project Icewine could further our production amount and help keep oil prices low and controlled by the U.S.

 

Here are some specifics on the project:

 

  • Broke ground: October 2015

 

  • Rock formations and fracking possibilities are similar to the Haynesville and Marcellus shale plays

 

  • Tests, via mass spectrometry analysis of mud gas, confirmed the presence of liquids rich gas throughout the shale interval.

 

  • Analysis of the HRZ samples has indicated total organic carbon (TOC) values in the range of 2.3% and 4.9% (averaging 3.5% by weight), which the company says is favourable compared to successful North American Shale plays.

 

  • It is done with the first phase of the project and it achieved all of its primary objectives

 

  • They are in preparation to drill another horizontal test well.

 

So while shale in other areas is on the downturn things are looking up for Project Icewine. While it may seem excessive, I do not think it is. I think it is a smart move and a project that could have lasting effect. Yes we have a surplus right now, but what happens when that goes away? Yes the other shale plays, Utica, etc… will start up again, but what about the time in between? It will take time for people to get back to drilling.

 

So while Icewine may seem excessive now, what will we say when it has been drilled and oil found? It might be at just the right time to keep the surplus going when it should have stopped. It could be the missing part in between the surplus and a second boom. What do you think? Is project Icewine a good idea? Tell us in the comments.

 

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