Zephyr Energy PLC said it acquired an additional 1,920 acres in the Paradox Basin, Utah, that it expects has immediate development potential.
Zephyr's technical team estimates the acquisition will add more than 4 million barrels of oil equivalent of additional 2C net resources to its flagship asset.
Arrow Exploration Corp has provided an operations update and announced the results of the 2022 mid-year oil reserves evaluation as of June 30, 2022, by Boury Energy Consultants Ltd.
The company said its NPV-10 (Net Present Value discounted by 10%) grew by 67% to US$223.6 million from US$133.9 million as of December 31, 2021, as oil prices and new hydrocarbon accumulations resulted in positive additions in reserves in all categories.
88 Energy Ltd (AIM:88E, ASX:88E, OTC: EEENF) said it now has two independent resource estimates for Project Icewine, one for the East site and one for the West.
Project Icewine is the company's oil exploration asset in Alaska, with the two estimates covering separate and independently mapped resources.
Pantheon Resources PLC (AIM:PANR, OTC:PTHRF) has uncovered a "world-class" oil discovery on its Theta West acreage in Alaska, according to independent consultants brought in to assess the area’s potential.
The respected US outfit Baker Hughes Advanced Hydrocarbon Stratigraphy (AHS) was charged with compiling a volatile analysis service report based on data collated after a successful appraisal well was sunk early this year.