Subsidiary News: Doyon Partners with CIRI in Nenana Basin
Pictured: Doyon spud the Toghotthele #1 well on June 1, marking the start of the summer drilling effort. CIRI joins that effort, as well as Doyon’s broader exploration of the Nenana basin.
On June 14, Alaska Native regional corporations Doyon, Limited and Cook Inlet Region, Inc. (CIRI) announced CIRI’s investment alongside Doyon in the oil and gas exploration of the Nenana basin in the Central Interior of Alaska. Doyon announced the commencement of drilling at its Toghotthele #1 exploration well earlier this summer. CIRI joins Doyon in its investment and efforts to locate commercial hydrocarbons in the Nenana basin.
Doyon is the sole lessee of approximately 400,000 acres of State of Alaska leases in the Nenana basin and owns the subsurface mineral interests to an additional 42,000 acres. The company has been actively exploring for oil and gas resources in the Nenana basin for more than a decade. To date, it has acquired modern seismic data and drilled exploration wells in the basin.
CIRI, which is headquartered in Anchorage and is Southcentral Alaska’s largest private landowner, has been active in the oil and gas activities in the Cook Inlet basin for more than 40 years as a lessor, royalty owner and, at times, a working interest, co-venturer and explorer.
“We are beyond pleased to be partnering with CIRI in our exploration efforts,” said Aaron Schutt, president and CEO of Doyon. “CIRI’s commitment speaks to the potential of a commercial-sized oil or gas find in the Nenana basin and their confidence in our efforts.”
“We are excited about this new partnership with a fellow Alaska Native corporation,” said Sophie Minich, president and CEO of CIRI. “The Nenana basin offers a promising opportunity to meet the energy needs of Interior Alaska and provide addition benefits to our shareholders.”