Doyon Signs Agreement with Hilcorp for Oil and Gas Exploration in the Yukon Flats
Earlier this month, Doyon, Limited announced a signed agreement with Hilcorp Energy for renewed oil and gas exploration in a portion of the Yukon Flats.
The agreement covers 1.6 million acres of Doyon-owned mineral rights in the Yukon Flats subregion where Doyon has a long-held interest in the oil and gas potential of the area. The greater Yukon Flats area comprises over 10 million acres, with much of it under federal ownership as part of the Yukon Flats National Wildlife Refuge.
The agreement with Hilcorp includes an initial airborne gravity survey of the region, followed by the opportunity for further exploration in the form of seismic and drilling programs. The initial focus of exploration is on the Birch Creek area.
Doyon’s interest in oil and gas in the subregion was highlighted beginning with the selection of ANCSA lands by Doyon in the area. In 1974, only two years after its incorporation, Doyon signed a series of land selection agreements among Beaver, Fort Yukon, Chalkyitsik, Circle, and Birch Creek village corporations in order to maximize Native-owned lands selections. These agreements resulted in 400,000 extra acres of ANCSA lands in the Yukon Flats. These agreements were signed for potential oil and gas opportunities, and to provide additional Native land for traditional activities.
Unlike Doyon’s previous exploration efforts in the Nenana/Minto basin, Doyon will not be the operator in the program, nor is Doyon an investor in the program. Doyon also signed a cooperation agreement with Tihteet
Aii, the village corporation for Birch Creek, regarding a joint pursuit of service contracts, and for shareholder training and hire. Orville Balaam, a board member with Tihteet Aii, Incorporated, said, “We’re happy, we waited so long, we’re able to do something finally, for our people, in terms of jobs, building something for them.”
Doyon expects the initial phase of Hilcorp’s exploration program to take place in 2020, with an airborne gravity survey of the exploration area. Doyon will be traveling to villages in the Yukon Flats to provide information and answer questions from shareholders. For more information, shareholders can email email@example.com.