After acquiring the leases, Great Bear moved quickly to test its fields. "We didn't take those leases to sit on them and watch them," he said. "We took those leases because we felt very confident and feel very confident that their potential is high when we set out to test those with the drill bit."Duncan subsequently negotiated a joint venture agreement with Halliburton Co. covering about a quarter of his company's North Slope acreage. Great Bear owns a 75 percent share. Halliburton took 25 percent and is handling the drilling operations.
Shale Oil: Geologist's Alaska Gamble Could Turn Into America's Next Big Shale Play
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