ENERGY & ENVIRONMENT
Arco Won’t Develop Sunfish Wells in Cook Inlet: In another disappointment in efforts to increase oil production in its Alaskan oil fields, Atlantic Richfield Co. has announced that it will cease drilling for new crude in the Sunfish tract it discovered in 1991. The company plans to take a $30-million charge against earnings in its third quarter as a result. An Arco spokesman said efforts will focus on adding more wells to existing North Slope fields. The Sunfish reservoir “was thinner and more discontinuous than our original interpretation,” said Bob Strode, Arco Alaska vice president of exploration and land.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
