East Acreage Exploration

Caelus has amassed a 350,000-acre position in the highly prospective trend between two of the largest hydrocarbon discoveries in North America, namely Prudhoe Bay and Point Thompson. Immediately following acquisition of these blocks, Caelus acquired 175 square miles of new, high-resolution 3D seismic data and reprocessed another 275 square miles of existing 3D to image prospects on our acreage. Adjacent infrastructure with available capacity reduces threshold volumes required for developing discoveries in the sub-100 MMBO recoverable range. Multiple play types within proven stratigraphic horizons provide significant upside potential in previously poorly-imaged structural trends and/or subtle stratigraphic traps. Surrounding legacy wells (1960s-1990s) vintage confirm deeper petroleum system elements and de-risked shallower Brookian reservoirs and hydrocarbon charge and phase within the area. Caelus is actively developing an impressive inventory of leads and prospects for near-term drilling within our acreage that should complement currently producing Oooguruk assets and bridge the gap with our longer-term Smith Bay development.