|Natural gas discovery in Cook Inlet believed to be significant|
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An independent petroleum company, Escopeta Oil, said Friday it believes it has made the largest discovery of natural gas in Cook Inlet in 25 years.
In a prepared statement issued Friday, the Houston-based company said the discovery, estimated at 3.5 trillion cubic feet of natural gas, was large enough to justify commercial gas production from the well, the Kitchen Lights Unit No. 1.
"Because of this discovery, which could be the largest discovery in the Cook Inlet for a quarter of a century, Escopeta is currently in the preliminary design stages of an accelerated natural gas development scenario that could bring new gas deliverability to the Cook Inlet as early as 2013," Escopeta vice president Bruce Webb said in a prepared statement sent to reporters at 5:30 p.m. Friday.