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Caelus Confirms Large-Scale Discovery on the North Slope of Alaska

For Immediate Release: Caelus Confirms Large-Scale Discovery on the North Slope of Alaska New find could deliver significant oil production, jobs and state revenue (Anchorage, AK – October 4, 2016) Caelus Energy Alaska, LLC announced Tuesday that its subsidiary, Caelus Energy Alaska Smith Bay LLC, has made a significant light oil discovery on its Smith […]

The Explorers 2016: Caelus taking a risk on Smith Bay

Caelus Energy LLC offers a reason for concern and a reason for hope.

A local subsidiary of the Texas-based independent is slowing its development of the Nuna satellite at its Oooguruk unit because persistently low oil prices and the resulting political uncertainty have challenged the economics of that North Slope project.

At the same time, the company proceeded with a two-well exploration program in an even more remote and challenging region of Smith Bay farther west – a region that could only be developed economically if oil prices rise considerably over the near future

Caelus credits tax system for Alaska involvement

Jim Musselman, president and CEO of Caelus Energy, and his colleagues only decided to enter the Alaska oil industry after the passage of Senate Bill 21, the law reforming Alaska’s oil production tax system, Casey Sullivan, director of public affairs for Caelus Energy Alaska LLC, told the Resource Development Council’s annual conference on Nov. […]

Caelus aims to unlock vast Torok oil resource

Exploring for oil is never a business for the faint-hearted, particularly when oil prices are at $50 per barrel combined with the risk of ever changing tax policies. It takes a stout heart and plenty of nerve. Jim Musselman and his team aren’t new, by any means, to exploration and development, and they’re making […]

Caelus Energy Alaska Acquires Majority Ownership in Smith Bay Oil Leases

Caelus Energy Alaska Acquires Majority Ownership in Smith Bay Oil Leases ‘Tulimaniq’ represents highly prospective play – exploration drilling planned for this winter (June 17, 2015, Anchorage, AK) Caelus Energy Alaska, LLC (‘Caelus’) is pleased to announce the acquisition of a 75 percent working-interest ownership in NordAq Energy Inc.’s Tulimaniq leases located in Smith Bay […]

Caelus hopes to extract millions of barrels of oil through North Slope fracking

State officials hope North Slope newcomer Caelus Energy Alaska can crack the code on a tricky oil prospect along the Arctic Ocean and lay the groundwork for similar opportunities scattered across the region. Success at the Nuna field west of Prudhoe Bay, where Caelus will employ fracking techniques developed in the Lower 48 shale […]

Caelus sanctions Nuna development

Caelus Energy has given formal approval for its new $1.5 billion Nuna oil project on the North Slope and has started construction, the company confirmed Friday. A letter notifying the state Department of Natural Resources of the approval was sent to the agency March 10 to satisfy a requirement of a temporary state royalty […]