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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Atlantic Coal | LSE:ATC | London | Ordinary Share | GB00B142G994 | ORD 0.07P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.09 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
RNS No 0390d ATLANTIC RICHFIELD COMPANY 13th February 1998 ARCO BEGINS ALPINE OIL FIELD CONSTRUCTION FOLLOWING ISSUANCE OF FINAL PERMIT BY U.S. ARMY CORPS OF ENGINEERS ANCHORAGE, Alaska, Feb. 13/PRNewswire/ -- ARCO Alaska, Inc. has begun construction of the Alpine oil field on Alaska's North Slope following issuance of the final U.S. Army Corps of Engineers permit. Construction of the 365 million barrel oil field will take two years. Initial production of 40,000 barrels per day is expected in early 2000, with peak production of 70,000 barrels per day in 2001. Alpine,located 34 miles west of the ARCO-operated Kuparuk River oil field, is 56% owned by ARCO Alaska, Inc., a subsidiary of Los Angeles-based ARCO (NYSE: ARC), Anadarko Petroleum Corp. (NYSE: APC) (22%), and Union Teas Petroleum Alaska, LLX (NYSE: UTH) (22%). Permits issued by the Corps of Engineers and state and local governments allow consturction of two gravel production pads, an airstrip, connecting gravel road and installation of four pipeline crossings beneath the Colville River. Production of the 40,000-acre oil field will require a surface development encompassing only 100 acres. A surface use agreement with Kuupik Corporation, the local Native village corporation, ensures maintenance of subsistence activities and cultural values, in addition to other considerations. Plans also call for the drilling of up to three Alpine appraisal wells this winter. These wells are designed to test development concepts and to determine if the Alpine formation contains additional reserves which could be produced from the already permitted facilities. ARCO and its partners announced plans to develop Alpine in Octobr 1996 after completion of a 3-D seismic survey and a six-well, four-sidetrack delineation drilling program. "Issuance of these permits and the start of Alpine construction are another step towards our production goal of 'No Decline After '99,'" said ARCO Alaska President Kevin Meyers. "Alpine development will create hundreds of jobs across Alaska." NOTE TO EDITORS: For information, contact: Ronnie Chappell, ARCO Alaska, (907) 263-4102. For a menu of ARCO news releases or to retrieve a specific release, visit our Web site at http://www.arco.com on the Internet. END MSCZLGMZMFRLRMG
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