Two oil companies are claiming recent oil discoveries north of the Arctic Circle that could produce a combined 10 billion barrels of oil.
Earlier this year, Colorado-based Armstrong Energy announced a major oil discovery involving multiple pools in Alaska’s Colville River Delta, west of Prudhoe Bay. According to a report in Petroleum News the company claims almost 500 million barrels of proven contingent oil reserves, and probable contingent reserves of 1.4 billion barrels and possibly as many as 3.7 billion barrels.
Last month, Alaska’s Caelus Energy announced a find at Smith Bay, a few hundred miles west of Prudhoe Bay, which could yield from 6 to 10 billion barrels of …
Pasha Hawaii Ordering 2 LNG Containerships
