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Forest Oil has yet to evaluate Osprey results

Posted: Tuesday, February 25, 2003

Forest Oil is just coming into production from its Osprey platform in the Redoubt Shoal site in Cook Inlet, according to the company's senior executive for Alaska operations in early February.

"We have not evaluated the results yet," said Senior Vice President Gary Carlson, of exploratory drilling from the Osprey platform.

With permits to drill five exploratory wells from the platform, Forest currently is drilling a sixth well. One of the wells is a disposal well, said Carlson.

And though the company has not officially published an oil production estimate for the project, facilities have been built with the capabilities of processing up to 20,000 barrels of oil a day.

Undersea pipelines have been completed, which will move natural gas and oil and water from the platform to onshore facilities at Kustatan on the west shore of the inlet.

Kustatan facilities include a power plant and an operation to remove produced water that comes out of the ground with the oil. After treatment, the produced water will be returned to the Osprey platform for disposal through an injection well.

In addition, two 7.8 mile pipelines were completed in August 2002 to carry natural gas and crude oil from Kustatan to Trading Bay. From there, gas could be sold through existing Cook Inlet gas lines and oil through an existing pipeline to the tanker terminal at Drift River.

Forest Oil also has Cook Inlet interest in the ConocoPhillips-operated Cosmopolitan unit north of Anchor Point with 25 percent ownership. The company has 180,000 acres of leases in Cook Inlet.

Plans call for bringing up a jack-up rig in 2004 to begin exploring for oil and natural gas in the unit and Carlson said the company has received much interest from potential partners in the venture.

"We will go into exploration with one partner," Carlson said.

Elsewhere in Alaska, the company has control of more than 1 million acres through license arrangements in the Copper River and Susitna areas, according to Carlson.

As evidenced by its large land area holdings, Forest Oil has a big commitment in the Cook Inlet, Carlson said.



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