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ADA says it is financing Hex Fury wells and exploring coal‑to‑gas options
Summary
Randy Jurorro of ADA said ADA approved financing tied to Hex Fury wells (with royalty relief in the package) and is evaluating two coal projects, including technology to extract gas from Susitna Valley coal seams as a mid‑ to long‑term option.
Randy Jurorro, executive director of ADA, said the authority passed a resolution financing Hex Fury’s well development and expects to finalize arrangements soon. He described royalty relief as a key component of that financing package and credited DNR’s parallel administrative work on lease terms.
Jurorro also said ADA has two coal projects in early due diligence, including one to retrieve gas from Susitna Valley coal seams; he stressed these are mid‑ to long‑term ideas requiring geologic and financial review. He noted ADA’s interest in qualifying as a state energy financing institution to gain access to additional federal financing tools once administrative hurdles are cleared.
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