Polar Petroleum Acquires Alaska Leases

摘要

Polar Petroleum, a wholly owned subsidiary of Polar Petro, said Tuesday that it had acquired 17 oil and gas leases covering 46,399 acres on Alaska’s North Slope. The company’s Franklin Bluffs Project overlies three source rocks that it believes hold unconventional shale oil. Polar said its Hemi Springs Project targets one of 18 Beaufort accumulations, which have an estimated ultimate recovery of 5 billion bbl of oil and 12 Tcf of natural gas.