BLOOMBERG.COM
Alaska’s oil reserves may have just gotten 80 percent bigger after Dallas-based Caelus Energy LLC announced on Tuesday the discovery of 6 billion barrels under Arctic waters. The light-oil reserves were found in the company’s Smith Bay leases between Prudhoe Bay and Barrow along the Arctic shore, according to a statement from Caelus. As much as 2.4 billion barrels is estimated as recoverable, according to a release issued by the company. That compares with the state’s proved reserves of 2.86 billion barrels in 2014, almost 8 percent of the U.S. total, Energy Department data show.
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Alaska’s oil reserves may have just gotten 80 percent bigger after Dallas-based Caelus Energy LLC announced on Tuesday the discovery of 6 billion barrels under Arctic waters. The light-oil reserves were found in the company’s Smith Bay leases between Prudhoe Bay and Barrow along the Arctic shore, according to a statement from Caelus. As much as 2.4 billion barrels is estimated as recoverable, according to a release issued by the company. That compares with the state’s proved reserves of 2.86 billion barrels in 2014, almost 8 percent of the U.S. total, Energy Department data show.
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