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Rumors of the impending "demise" of Alaska's North Slope oil reserves are, as the tale goes, greatly exaggerated.
The newswires have been humming lately as stories of new oil developments in the Prudhoe Bay/Kuparuk River area are made public by the two leading producers in the area - ARCO Alaska Inc. and BP Exploration (Alaska) Inc.
On the heels of announcing it would develop heavy oil reserves in the West Sak field that overlies Kuparuk River (IRW, 3-10), ARCO last week said oil was found in two delineation wells and a sidetrack in the Tarn Prospect west of Kuparuk River.
ARCO, as operator for BP, plans to drill additional delineation wells at Tarn, which …