10-4-16 NEW ALASKA NORTH SLOPE DISCOVERY ANNOUNCED! – Big Arctic Symposium Today & Tomorrow In Anchorage

For Immediate Release:

Caelus confirms large-scale discovery on the North Slope of Alaska
New find could deliver significant oil production, jobs and state revenue

(Anchorage, AK – October 4, 2016) Caelus Energy Alaska, LLC announced Tuesday that its subsidiary, Caelus Energy Alaska Smith Bay LLC, has made a significant light oil discovery on its Smith Bay state leases on the North Slope of Alaska.

Based on two wells drilled in early 2016 as well as 126 square miles of existing 3D seismic, Caelus estimates the oil in place under the current leasehold to be 6 billion barrels. Furthermore, the Smith Bay fan complex may contain upwards of 10 billion barrels of oil in place when the adjoining acreage is included. Due to the favorable fluids contained in the reservoir, Caelus expects to achieve recovery factors in the range of 30-40%. Additional drilling and seismic should improve estimates of oil in place via delineation of undrilled fan lobes and channel complexes imaged on the original 3D seismic.

Caelus CEO Jim Musselman said: “This discovery could be really exciting for the State of Alaska. It has the size and scale to play a meaningful role in sustaining the Alaskan oil business over the next three or four decades. Fiscal stability going forward is critical for a project of this magnitude. Without the state tax credit programs, none of this would’ve happened, and I’m not sure Caelus would’ve come to explore in Alaska. We’re proof that the credit programs work.”

The Smith Bay development has the potential to provide 200,000 barrels per day of light, highly mobile oil which would both increase Trans-Alaska Pipeline System (TAPS) throughput volumes and reduce the average viscosity of oil in the pipeline, extending its long term viability.

Note: Hopefully, no new oil discovery will tempt Alaska’s leaders to withdraw from their current focus on developing a sustainable budget based on a leaner government. -dh

World Trade Center Executive Director Greg Wolf tells us there are a few seats available. Just show up and register at the door! -dh

A Few Seats Remaining – Register At the Door

Find out what’s in store for business and development in the Arctic!

Hear the latest news and views from the companies and agencies who are actively engaged with projects in the region.

Network with other professionals to meet potential customers and partners.

Arctic Ambitions V Conference Agenda (times are approximate)

Sheraton Anchorage Hotel

Day 1 – October 4 (Tuesday)

8:30 am Doors Open, Registration Starts, Breakfast

9:00 am Welcome Remarks

9:30 am Panel: Commercial Development of the Arctic – International Perspectives

Hilde Janne Skorpen, Consul General of Norway in San Francisco

Andrey Bondarev, Head of Economic Office, Embassy of Russia

Tom Hanson, Principal Commercial Officer, United States Consulate General, Calgary

Crystal Roberts, Senior Commercial Specialist, United States Consulate General, Calgary

Lori Davey, U.S. Representative, Arctic Economic Council

10:30 am Panel: Arctic Construction and Design

Craig Fredeen, Senior Engineer, PDC Inc. Engineers

Rada Khadjinova, Alaska Division Manager, Fugro

Jack Hebert, Founder & CEO, Cold Climate Research Center

Ronny McPherson, Coastal and Maritime Lead, HDR Inc.

11:30 am Featured Speaker: Dr. Syun-Ichi Akasofu, International Arctic Research Center

12:00 pm Networking Luncheon

1:00 pm Panel: Arctic Transportation

Bruce Harland, Vice President, Crowley Maritime

Mark Smith, CEO, Vitus Marine/Vitus Energy

Brien Dunn, Marketing Specialist Advisor, FedEx

Isaak Hurst, Attorney & Principal, International Maritime Group

Paul Fuhs, Executive Director, North Slope Port Authority

2:00 pm Featured Speaker: Gail Schubert, CEO, Bering Straits Native Corporation

2:20 pm Featured Speaker: U.S. Senator Lisa Murkowski

2:30 pm Panel: Arctic Telecommunications

Tina Pidgeon, General Council, Chief Compliance Officer, Senior VP for Governmental Affairs, GCI

Elizabeth Pierce, CEO, Quintillion

Leonard Steinberg, Senior Vice President, Legal, Regulatory and Government Affairs, Alaska Communications

3:30 pm Panel: Arctic Ports

Steve Ribuffo, Director, Port of Anchorage

Shirley Marquardt, Mayor, City of Unalaska

Joy Baker, Director, Port of Nome

4:30 pm Featured Speaker: Chris Rose, Executive Director, Renewable Energy Alaska Project

5:00 pm Panel: Arctic Investment

Mead Treadwell, President, Pt Capital

John Springsteen, Executive Director, AIDEA

5:30 pm Networking Reception (Sponsored by GCI)
Featuring
– dance performance by Sudarushka

– door prize drawing – must be present to win

– door prize: two round trip tickets from Anchorage to Kamchatka by Yakutia Air

Day 2 – October 5 (Wednesday)

8:30 am Doors Open, Registration, Breakfast

9:00 am Arctic Tourism: Scott Habberstad, Director of Sales & Community Marketing, Alaska Airlines

9:30 am Our Arctic Our Future: Greg Wolf, Executive Director, WTC Anchorage

10:00 am Panel: Arctic Resources (Mining & Energy)

Rob Brown, Vice President of Business Development, Usibelli Coal Mine
Chris Kennedy, General Manager, Sumitomo Metal Mining Pogo LLC
Kurt Parkan, External Affairs Manager, Donlin Gold Mine
Dr. Doug Reynolds, University of Alaska Fairbanks
Isaak Hurst, Attorney & Principal, International Maritime Group

12:00 – 1:30 pm Closing Networking Luncheon

Click Here to Sponsor

About the Author: wpnorthern

Dave Harbour, publisher of Northern Gas Pipelines, is a former Chairman of the Regulatory Commission of Alaska, a Commissioner Emeritus of NARUC, NARUC's Official Representative to IOGCC and Vice Chairman of NARUC's Gas Committee. He served as Gas Committee Chairman of the Western Conference of Public Service Commissioners. He also served as commissioner of the Anchorage Bicentennial Commission and the Anchorage Heritage Land Bank Commission. He earned a Bachelor of Arts Degree: English, at Colorado State University, a Master of Science Degree: Communications-Journalism at Murray State University and graduated from Utility Regulatory School for Commissioners at Michigan State University. He served as a Vice President for Communications and Public Affairs at Alaska Pacific University, taught bank marketing classes at the University of Alaska and was an English teacher at Los Alamos High School. Harbour served in ranks of Private - Captain during a 4-year assignment with the Army in Korea, Idaho, Georgia and Fort Meade and received the Meritorious Service Medal among other commendations. Harbour is also a past Chairman of the Alaska Council on Economic Education, the Alaska Oil & Gas Association Government Affairs Committee, the Anchorage Chamber of Commerce, the Export Council of Alaska and the Department of Commerce's District Export Council. He is a past President of the Alaska Press Club, American Bald Eagle Foundation, Consumer Energy Alliance-Alaska and Common Sense for Alaska. Harbour was instrumental in founding the American Bald Eagle Research Institute (UAS), the Alaska Support Industry Alliance, the Downtown Anchorage Business Partnership, and Arctic Power. He also served as CEO of several small Alaska organizations, including the Anchorage Parking Authority and Action Security, Inc. Harbour is also Chairman Emeritus of the Alaska Oil & Gas Congress. Harbour's wife, Nancy, is a professional, performing arts administrator and his three boys, Todd, Benjamin and William work in the fields of environmental management, energy marketing and medicine.