88 Energy is gearing up to tap its Merlin-2 well at Project Peregrine in Alaska’s North Slope after pinpointing a spot from a trio of initially permitted locations. The company says the chosen ground could deliver thicker reservoir sections and sands with higher permeability and porosity than its previously completed Merlin-1 well. Merlin-2 is targeting 652 million barrels of oil with an independent geological evaluation giving it a better-than-even chance of success. According to 88, the Merlin sequel will lie in an area downdip of Merlin-1. The company says the remaining two zones, along with its Harrier-1 drilling ... (full story)