HOME | Monitor | ConocoPhillips Signs Agreement with Caelus to Acquire Nuna Acreage

ConocoPhillips Signs Agreement with Caelus to Acquire Nuna Acreage

Jun 19, 2019 | Monitor

ConocoPhillips’ Kuparuk field camp

ConocoPhillips Alaska

HOUSTON – ConocoPhillips Alaska (COPA) announced that it has entered into an agreement with Caelus Natural Resources Alaska to acquire 100 percent of the Nuna discovery, located just east of the Colville River and approximately five miles southwest of the Oooguruk Field.

The Nuna prospect was announced as a discovery in 2012. The purchase includes eleven tracts covering 21,000 acres. Over the next several years, COPA will appraise Nuna with a goal toward making a final investment decision thereafter. The transaction, effective June 14, is subject to state regulatory approval.

“This transaction represents an attractive addition to our expanding North Slope position and will allow ConocoPhillips to cost effectively develop Nuna utilizing Kuparuk River Unit infrastructure,” said Joe Marushack, president of ConocoPhillips Alaska. “We believe this acquisition could lead to more oil production, more revenue for the state and more jobs for Alaskans.”

Current Issue

Alaska Business April 2021 Cover

April 2021

Industry Sponsor

Become an Industry Sponsor

Alaska Business Magazine April 2021 Cover

In This Issue

The Corporate 100

April 2021

Alaska Business has been celebrating the corporations that have a significant impact on Alaska’s economy since 1993. At the time, the corporations weren’t ranked as the list didn’t have specific ranking criteria. Instead, the Alaska Business editorial team held long, detailed, and occasionally passionate discussions about which organizations around the state were providing jobs, owned or leased property, used local vendors, demonstrated a high level of community engagement, and in general enriched Alaska.

Share This