The Tulimaniq well at Smith Bay on the North Slope is seen in this Caelus Energy image. After heralding what they believe to be a major discovery in 2016, plans for an appraisal well to prove up the find have been put off based on sustained low oil prices and state policy uncertainty on tax incentives. (Photo/Courtesy/Caelus Energy)

The Tulimaniq well at Smith Bay on the North Slope is seen in this Caelus Energy image. After heralding what they believe to be a major discovery in 2016, plans for an appraisal well to prove up the find have been put off based on sustained low oil prices and state policy uncertainty on tax incentives. (Photo/Courtesy/Caelus Energy)

Oil prices, policy uncertainty prompt Caelus to postpone well

  • By ELWOOD BREHMER
  • Tuesday, June 13, 2017 8:44pm
  • News

Caelus Energy won’t be drilling new wells on the North Slope next winter for a host of reasons.

As a result, Alaskans will have to wait at least another year to see whether the company’s promising but remote Smith Bay oil prospect, which Caelus leaders have touted to be a 6 billion-barrel discovery, lives up to its billing.

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