1. HOME
  2.  | 
  3. Monitor
  4.  | 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 March 2024 Cover

March 2024

Alaska Business March 2024 cover
In This Issue
Wealth of the Arctic
March 2024
Point your compass north of the Arctic Circle to explore construction, industry support, resource development, and other opportunities available in the polar region. This issue also celebrates the Arctic Winter Games being hosted in the Matanuska-Susitna Borough this month, and it reveals how the 1964 Good Friday earthquake continues to reverberate, sixty years later.
Share This