ConocoPhillips Signs Agreement with Caelus to Acquire Nuna Acreage

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.”