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88 Energy starts permitting for Alaska well targeting 64m barrels of oil equivalent.

Market News
30 Mar 2026
Proactive Investors
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Bullish
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88 Energy has begun the permitting and planning process for the Augusta-1 exploration well on Alaska's North Slope, aiming to tap into an estimated 64 million barrels of oil equivalent. The well will test multiple reservoirs within the South Prudhoe project, a strategic area near major producing units where 88 Energy holds full interest. The company is permitting three potential drilling sites to maintain flexibility for partners and future exploration, with a final location decision expected by mid-2026. Farm-out talks and rig contract negotiations are underway, targeting a drilling start in early 2027, marking a key step in advancing this high-priority project with promising structural and seismic indicators.

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