Highlights Could mean oil-bearing Nanushuk formation larger than believed Initial data indicates presence of light, high-quality oil Anchorage — Australian independent 88 Energy has made an apparent oil discovery with its Merlin-1 exploration well in the southeast National Petroleum Reserve-Alaska, or NPR-A, and more test results are expected in the next few days, the company said March 31. Receive daily email alerts, subscriber notes & personalize your experience. Register Now An independent geologist said the find could be significant because it would show that an oil-bearing regional geologic formation, where discoveries have previously been made, is larger than thought. Based on geologic modeling and seismic data, 88 Energy estimates a potential oil resource of 650 million barrels at Merlin-1. The NPR-A is a 23-million-acre federal reserve west of Prudhoe Bay and other large producing fields on the North Slope. 88 Energy found oil at multiple intervals in Merlin-1 but […]