Lea #1 has been tested for over six months now. One must wonder how viable it is. Any good news and we would have heard by now IMO. Permeability is a big issue (due to "sticky clay") and might explain why Chevron has decided to exit all their leases in the Cook Inlet. No doubt there is plenty of gas there but getting it to flow normally requires multiple frac jobs and in Alaska the costs are prohibitive. You can have the largest gas reservoir going but if it doesn't flow commercially, it's not worth a cracker.
LNC Price at posting:
$2.72 Sentiment: None Disclosure: Not Held
