A little-known energy exploration company said on Tuesday that it has made a world-class oil discovery in remote Alaska, potentially breathing new life into the state’s declining North Slope. Caelus Energy LLC, a closely-held firm backed by private-equity fund Apollo Global Management LLC, said it made the oil find in the shallow waters of Smith Bay, about 300 miles north of the Arctic Circle. The company says it expects to be...

Source: Wall Street Journal October 04, 2016 22:11 UTC