Caelus Energy Alaska makes an oil discovery of 6 billion barrels of oil in place off Alaska’s North Slope. Caelus Energy Alaska LLC reported Tuesday it has made a light oil discovery of 6 billion barrels in place off Alaska’s North Slope. The estimate is based on the results of two wells Caelus drilled earlier this year on its Smith Bay state leases, and 126 square miles of existing 3D seismic data, Caelus said in an Oct. 4 press release. Gross hydrocarbon columns of more than 1,000 feet were encountered in both the Caelus-Tulimaniq No. 1 and step-out Caelus-Tulimaniq No. 2 well, with respective net pay of 183 and 223 feet. Seasonal time constraints prevented the company from flow testing the well, but Caelus said that extensive sidewall coring and subsequent lab analyses confirm the presence of reservoir-quality sandstones containing light oil ranging from 40 to 45 degree API […]