Alaska's DNR Eyes Oil Exploration in Yukon Flats

0:00In Anchorage, it's March 21st, here's what is happening. Alaska's Department of Natural Resources has made a preliminary call to allow oil and gas exploration on certain state-owned lands near the Yukon. River in the Yukon Flats area. This covers subsurface rights under riverbeds and lakebeds. The agency issued a public notice on March 4th, saying it aligns with state goals to develop resources. Comments from the public are due by April 6th. Meanwhile, this comes as Hillcorp continues work with Doyon Limited, the regional Alaska native corporation, and nearby areas. Last summer, they drilled an exploration well on Doyon-Least land near Birch Creek, South of Fort Yukon. Hillcorp's application for state land exploration is paused until the review wraps up. The Yukon Flats feature vast wetlands at the Yukon and Porky Pine River's meeting point, mostly inside a national wildlife refuge known for waterfowl. And wouldn't mean instant drilling rakes, though, due to layers of state and federal rules.

1:03Split ownership between state and native lands could complicate any oil finds underground. According to officials, the area holds unknown potential with tech advances possibly aiding surveys. The state sees value in gathering new geological data. A similar review happened last year in the Susitna River Valley. Hillcorp drilled just one well last year instead of two, and equipment like the rig remains on site. Doyon plans updates for shareholders soon, focusing on local jobs and community ties as operations continue into the next season.