Linc Energy strikes oil at Umiat oil field in Alaska
Published on Mar 31, 2014 6:54 PM
Global oil and gas production company Linc Energy said on Monday it has found oil in one of its oil wells at its Umiat oil field in Alaska.
The dual-listed company in Singapore and the United States also said the well marks the first time crude oil has been surfaced in significant quantities at Umiat since 1952.
During seven days of testing, the Umiat #23H well produced a peak flow rate of 800 barrels of oil per day and a sustained flow rate of 250 barrels per day.
The well produced light sweet crude oil with a high American Petroleum Institute (API) gravity of 38.5.
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