BlueCrest secures funding to develop Cook Inlet natural gas reservoir

BlueCrest Energy says it has secured funding to advance development of a natural gas reservoir in Alaska’s Cook Inlet.

The company says the development program will focus on the Lower Tyonek A reservoir at the Cosmopolitan Unit.

Plans include recertifying BlueCrest Rig Number 1, completing well engineering, purchasing long-lead equipment and expanding the Hansen Production Facility.

The company also plans to drill and complete the H-17 extended-reach gas well.

BlueCrest expects H-17 to begin producing natural gas by March 1, 2027, with an initial production rate of about 25 million cubic feet per day.

The well will be drilled from the company’s existing onshore Hansen pad beneath Cook Inlet.

BlueCrest says it will use the results from H-17 to plan and optimize a second Lower Tyonek A development well.

The company’s Plan of Development requires first Lower Tyonek A gas no later than March 31, 2027, while its current target is March 1.