88 Energy (ASX:88E) on track to spud Hickory-1 well in early March - Kalkine Media

February 27, 2023 11:43 AM AEDT | By Shwetambri Chauhan
Follow us on Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp


  • Preparations are on track for the spudding of the Hickory-1 well during early March 2023.
  • The Hickory-1 ice pad construction is nearing completion.
  • Nordic Calista’s Rig-2 is expected to be soon mobilised to the Hickory-1 well location.
  • Flow testing of the Hickory-1 well is planned to be undertaken during the 2023/24 winter season.

88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF), an oil and gas exploration and production company, is moving ahead as per schedule to drill the Hickory-1 well within its Project Phoenix acreage in early March 2023.

As per the latest update, the Hickory-1 ice pad construction is nearing completion. The mobilisation of the Nordic Calista Rig-2 and operations equipment is expected to commence shortly.

Nordic Calista Rig-2 preparations ahead of mobilisation to Hickory-1 drilling location

Image source: 88E update 

Overview of Hickory-1 well

The well sits within the company’s Project Phoenix acreage on the central North Slope of Alaska. The project is adjacent to the Trans-Alaska Pipeline System and the Dalton Highway.

Project Phoenix lease area (Image and data source: 88E update)

The well, permitted to a total depth of up to 12,500 feet, is targeting 647 million barrels of oil.

The well is designed to appraise up to six conventional reservoir targets within the Shelf Margin Delta (SMD), Slope Fan System (SFS), Basin Floor Fan (BFF) and Kuparuk (KUP) reservoirs.  

  • Primary targets - 3 SMD reservoirs, namely SMD-A, B and C
  • Secondary targets - SFS and BFF reservoirs
  • Tertiary target - KUP reservoir

Planned operations at Hickory-1

The Hickory-1 surface hole is planned to be drilled to 3,500 feet. It is to be noted that 9 5/8” surface casing has been installed while the blow-out preventer system has been tested.

The surface hole drilling is expected to take up to two weeks. Following which, the drilling operations to the total depth of up to 12,500 feet are likely to take further two weeks. After this, the company plans to undertake a targeted wireline logging program.

Depending on results from the drilling campaign, the company plans to undertake flow testing of the Hickory-1 well during the 2023/24 winter season. 88E suggests that this will provide ample time, subsequent to the drilling campaign, to optimise the flow test program, design, permitting and implementation.

88E shares traded at AU$0.011 midday on 27 February 2023.


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

5 ASX Companies Leveraging AI to Drive Growth in 2024

Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.