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State extends Cook Inlet petroleum unit agreement

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Posted: Friday, March 30, 2012 8:27 am | Updated: 1:48 pm, Wed Jan 16, 2013.

ANCHORAGE, Alaska - State petroleum lease regulators have extended the unit agreement for leases in a section of Cook Inlet.

The agreement for the Kitchen Lights Unit in upper Cook Inlet now extends four years to Jan. 31, 2016.

The unit covers 83,394 offshore acres. The operator is Furie Operating Alaska, LLC, formerly Escopeta Oil Co., LLC.

Furie is the first company in roughly 20 years to bring a jack-up rig to Cook Inlet.

The company's modifications to its plan of exploration, negotiated with the state, set out a four-year schedule and commit Furie to a multi-well drilling program, with two exploration wells to be drilled in 2012.

Oil and Gas Division Bill Barron says the state wants Furie to have every opportunity to be a success story at Kitchen Lights Unit.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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