88 Energy Limited (LSE:88E) has updated investors on progress at Project Phoenix, outlining plans to drill the Franklin Bluffs-1H horizontal well and carry out an extended production test in 2026. Working alongside partner Burgundy Xploration LLC, the company is pushing ahead with operational preparations and funding efforts, even as recent U.S. government shutdown disruptions slowed certain timelines.
The initiative is designed to unlock additional productivity from the SMD-B reservoir. Burgundy has expanded its land position and pledged further capital to support development, reinforcing the project’s momentum. If current plans stay on track, 88 Energy could begin production in 2027, bolstering its presence within Alaska’s oil and gas landscape.
More about 88 Energy
88 Energy Limited is an exploration and development company with a focus on conventional oil and gas opportunities on Alaska’s North Slope. The firm holds a notable stake in Project Phoenix, a key pillar of its broader strategy in the region.
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