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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.

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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 moves in Alaska.

Caelus Energy, a Dallas-based small independent where Musselman is CEO, has big plans on the North Slope, and Musselman has a big track record. He led the discovery and development of the giant Jubilee field offshore of Ghana when he headed Kosmos Energy, and he believes big discoveries, similar to Jubilee, can still be made on the Slope.

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