Forte Energy (ASX: FEL) has completed the acquisition of a substantial oil lease position on Alaska’s North Slope, securing 143,368 acres across 13 leases within the National Petroleum Reserve of Alaska (NPR-A).
The acquisition was finalised through the purchase of Peritas LLC, the registered holder of the leases, following completion of the lease assignment process.
The Bureau of Land Management (BLM) has confirmed that the leases will remain in suspension for the remainder of 2026 at Peritas’ request.
During this suspension period, the annual lease fees of US$3 per acre will be waived, allowing Forte Energy to avoid approximately US$430,000 in fees for the year.
The company said the savings provide additional discretionary funding that can be directed toward farmout discussions and the potential acquisition of further assets.
Harrier Prospect Technical Work
Forte Energy has begun desktop technical studies on the Harrier oil prospect located within the newly acquired leases.
The prospect has previously been assessed as having potential for more than one billion barrels of prospective recoverable resources across multiple horizons based on independent analysis conducted for previous operator 88 Energy.
The company said the work will focus on updating the prospective resource estimate, advancing the prospect toward drill-ready status and supporting a planned farmout campaign later in 2026.
The Harrier structure has been compared to the nearby Pika Field, located approximately 70 kilometres to the north-east and currently under development, which is expected to ramp up to production of around 80,000 barrels of oil per day once fully operational.
Historical Umiat Oil Field Review
Forte also plans to undertake new technical studies on the Umiat oil field located within the broader project area.
The field was originally discovered in the 1940s and has been subject to multiple commercialisation studies by previous operators.
One of those, Energy Limited, completed the abandonment of two legacy wells; therefore, Forte regards Umiat as a no-cost option over a substantial accumulation of oil.
The company intends to review historical datasets and previous work programs to evaluate whether advances in technology and current oil price conditions could support future development.
