Alaska Farmout - Horizontal Wells

State:
Multi-State
Control #:
US-OG-704
Format:
Word; 
Rich Text
Instant download

Description

Should any Party elect not to participate in any Horizontal Exploratory Well, other than the Initial Well proposed under the terms of the Agreement, the non-participating Party agrees to farmout to the participating Parties its interest.

How to fill out Farmout - Horizontal Wells?

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FAQ

While the new regulations will block new oil and gas leases in the protected areas, they will not block the development of existing leases in the NPR-A, including ConocoPhillips' controversial Willow Project. Alaska oil drilling projects have been top of mind for both the administration and voters this year.

Biden has not stopped oil and gas drilling on public lands and in federal waters, as he pledged as a candidate in 2020.

Horizontal wells are used in situations where the reservoir is abnormally shaped, or excavation is impossible. Horizontal drilling is preferred over vertical drilling due to its ability to access subsurface reservoirs that are not accessible from directly above.

On February 1, 2023, the BLM completed the final SEIS, approving the project with three drill pads with 50 oil wells each for a total of 150 oil wells.

There must come a point where human health, food security, environmental justice, and a functioning ecosystem come before corporate profit. It's not too late to say NO to Willow - for current and future Americans, and for the wellbeing of the planet.

March 13, 2023 The Bureau of Land Management approves ConocoPhillips' Willow Project, a decision that threatens to lock in more than 30 years of oil and gas development in the Reserve.

Conservationists said that oil development would unnecessarily threaten the existence of the Porcupine caribou by cutting off the herd from calving areas. They also expressed concerns that oil operations would erode the fragile ecological systems that support wildlife on the tundra of the Arctic plain.

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Alaska Farmout - Horizontal Wells