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Alaska North Slope: Caelus Energy announces giant discovery in Beaufort Sea

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Report summary

On 4 October 2016 Caelus Energy released internal estimates of 1.8 to 2.4 bnbbl of recoverable reserves and 6 bnbbl of oil in place from the Tulimaniq field in the shallow waters of the Beaufort Sea off the North Slope of Alaska. If these volumes are proven it would mark the largest oil discovery since Norway s Johan Sverdrup in 2010. While the discovery has been touted by the operator as a game changer it faces significant headwinds to reach development. The remote location costly development solution environmental sensitivity and fluctuating fiscal environment could diminish returns or derail the project altogether even if appraisal results support the giant field size.

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    Alaska North Slope: Caelus Energy announces giant discovery in Beaufort Sea

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Tables and charts

This report includes 3 images and tables including:

Images

  • Caelus' Tulimaniq field
  • Global exploration volumes, 2010-2016 YTD
  • Cash tax credits owed to Caelus Energy at risk

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