Largest onshore oil discovery in 30 years made in Alaska

Denver petroleum producer Armstrong Oil & Gas and its minority partner, Spanish energy giant Repsol SA, have made a huge oil discovery.

On Alaska’s North Slope, Rapsol officials claim the 1.2 billion barrels of light crude is the largest onshore find in 30 years.

“The company expects first production to be in 2021 with a potential rate of 120,000 barrels a day,” said Matthew Andre, a senior energy analyst with Platts Analytics in Denver.

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