Almost the entirety of commercial oil and natural gas production in Alaska occurs in two basins: there is the North Slope including its nearshore waters in the Arctic Ocean, and there are the two onshore sides of Cook Inlet as well as the body of water in between.
These are also the general regions.
When you get down to it, launching a North Slope drilling program is simple. You just need permission and money. Of course, getting those is where the challenges start.
For the past few years, the small independent Jade Energy Inc. has been pursuing both: trying to get governmental approval and priv.
Like many previously small players in Alaska, 88 Energy is holding more acreage than it can currently afford to develop at one time, and therefore the company has been strategically hopscotching its leasehold in recent years, proving up one corner at a time.
Through its subsidiary Accumulate Energy.