FAIRBANKS, Alaska (AP) — Alaska Native Corporation Doyon Ltd is considering drilling a fourth well about 50 miles (80 kilometers) west of Fairbanks in the Nenana-Minto Basin.
The Fairbanks Daily News-Miner reported Wednesday that the corporation's recent round of seismic 3-D testing showed "unexpected surprises."
Doyon CEO Aaron Schutt said the corporation will have an announcement on its potential fourth well in November.
Schutt said Doyon has spent a decade exploring the area for fossil fuels and invested more than $100 million in the search.
In summer 2016, the corporation's subsidiary Doyon Drilling spudded an exploratory well that officials hoped would deliver affordable natural gas to the Interior for generations, but the drilling did not tap into a commercially viable source.