Eni Buys Exploration Leases In Alaska’s North Slope

Eni SpA (NYSE: E) acquired a prospective onshore exploration area in the eastern North Slope of Alaska from Caelus Alaska Exploration LLC, the Italian oil major said Aug. 29.

In total, Eni purchased 124 exploration leases covering roughly 350,000 acres in the eastern exploration area (EEA) from the subsidiary of privately-held Caelus Energy LLC for an undisclosed amount. The company will hold all the leases with a 100% working interest.

Eni said it has already achieved a prime position in Alaska’s North Slope but the company expects its latest acquisition will further strengthen its presence.