Santos Reports New Oil Find at Lagniappe, Confirms Strong Progress on Pikka Phase 1

BATON ROUGE, LOUISIANA (Steve Stewart, Energy Analytics Institute, 18.Mar.2025) — APA Corporation announced an oil discovery on Alaska’s North Slope from the Sockeye-2 exploration well in the Lagniappe area east of Prudhoe Bay.

The well was drilled to a depth of 10,500ft, successfully reaching a high-quality reservoir containing around 25ft of net oil pay within a single, blocky, Paleocene-aged sand formation with an average porosity of 20%, Santos Ltd. announced on 18 Mar. 2025 in an official statement.

Additionally, potential pay zones were identified in the shallower Staines Tongue formation, Santos said.