88 Energy to Launch Horizontal Well and Production Test at Alaska’s Project Phoenix in 2026
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88 Energy Limited will launch a horizontal well and production test at Project Phoenix in Alaska in Q3 2026. Under a farmout agreement with Burgundy Xploration LLC, 88 Energy is fully carried for all costs. Burgundy has invested over $26 million and secured new acreage. The IPO process for Burgundy is delayed due to U.S. government shutdowns, extending their farm-out obligations until April 2026.
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