88 Energy Advances Augusta-1 Preparations As Farm-Out Bids Arrive
Closing price · 2026-10-26: $0.020 · +5.26%
88 Energy says more than 80% of vendor services and long-lead items for its planned Augusta-1 well have been selected or secured, with drilling targeted for early 2027, subject to funding and other conditions. Several bids have been received for a South Prudhoe farm-out, with negotiations ongoing and key terms targeted by late 2026. In Alaska, a final extension for the Phoenix project shifts the planned Franklin Bluffs well to the third quarter of 2027 and is tied to a transfer of a 10% working interest in newly awarded leases.