Posts

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. 19. And, since entering the state, the company has followed up on a commitment to move swiftly ahead with its Alaska program, Sullivan said.

Read the full story here

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 modification for the Nuna project.

Gravel mining and hauling for a 2.5-mile access road and 22-acre drillsite began Jan. 25, Caelus Vice President Pat Foley told state Deputy Natural Resources Commissioner Marty Rutherford in the letter.

The road and pad are to be finished this winter, with construction of production facilities planned for next year, company spokesman Casey Sullivan said in an interview.

Read the full story here