guess 'they' just don't know what they don't know -
March 10, 2017
Some 1.2 billion barrels of oil have been discovered in Alaska,
marking the biggest onshore discovery in the U.S. in three decades.
The new discovery was made in just the past few days in Alaska's North Slope,
which was previously viewed as an aging oil basin.
Spanish oil giant Repsol and its privately-held U.S. partner Armstrong Energy
announced the find on Thursday,
predicting production could begin as soon as 2021
and lead to as much as 120,000 barrels of output per day.
The oil resources lie in a well, called Horseshoe,
that's 75% owned by Denver-based Armstrong.
Repsol owns the rest of this well.
The North Slope find comes less than six months after Caelus Energy
and private-equity giant Apollo Global Management
announced a massive Alaska oil discovery in the waters of Smith Bay.
