Project Phoenix: 88 Energy outlines 2026 horizontal well, flow-test plan

88 Energy’s Project Phoenix on Alaska’s North Slope will move ahead with a fully funded horizontal well and extended production test planned for the second half of 2026. Preparations are underway, with necessary staffing, permitting and long-lead items already mobilized ahead of spud.

Under a farm-out agreement with Burgundy Xploration, Burgundy will carry all costs of the upcoming work program. The planned well, named Franklin Bluffs 1H, will target multiple stacked reservoirs previously identified by the 2023 discovery well and follow-up flow tests.