North Slope in Alaska Promising for ConocoPhillips

With major operations in Bartlesville, ConocoPhillips is in the process of expanding into Alaska and reported this week the conclusion of its 2018 winter exploration and appraisal program there. And it appears the results are promising for the Houston-based company.

ConocoPhillips originally intended to drill five wells on the Western North Slope comprising two appraisal wells of the Willow Discovery announced in January 2017 plus three exploration wells.

But the company was able to drill six wells, thanks to improved drilling efficiencies. All six encountered oil and verified the potential of the play according to an announcement by ConocoPhillips.

The firm said the three Willow appraisal wells support the previously announced estimate of a “recoverable resource potential of at least 300 million barrels of oil.”

The company said the three exploration wells also represent new discoveries for the company and extend the play concept across the Western North Slope.

What’s next? The company intends to continue assessment of the information and the results in anticipation of another active exploration and appraisal season in 2019.

“The results of this year’s program are promising,” said Matt Fox, executive vice president, Strategy, Exploration & Technology. “We are excited about the opportunity to extend our legacy in Alaska where we have a long track record of operational success and value creation.”