ASRC is situated within one of the largest hydrocarbon provinces of North America. Major oil companies have leased, and are leasing, tracts of ASRC land throughout the region. Over the last 25 years several exploratory wells have been drilled on ASRC lands, however, no development activity occurred until the discovery of the Alpine Oil Field located in the Colville River Delta.
ASRC and Kaktovik Iñupiat Corporation (KIC) own 92,000 subsurface and surface acres respectively in the Coastal Plain of the 19.8 million acre Arctic National Wildlife Refuge (ANWR). The acreage surrounds the village of Kaktovik, the only settlement in ANWR.
According to the U.S. Geological Survey, the non-wilderness area of ANWR’s Coastal Plain is believed to hold a mean estimate of 10.4 billion barrels of recoverable oil. This area was specifically set aside by Congress as a study area because of its potential to hold significant amounts of oil and gas