ConocoPhillips Acquiring Marathon Oil Corporation for $22.5B
Two global oil companies with headquarters about 5 miles apart in Houston, Texas agreed to a $22.5 billion transaction.
Tag: ConocoPhillips
ConocoPhillips Alaska Update: Plans for Greater Mooses Tooth 2, Nuna, and Willow
ConocoPhillips announced in December 2023 a Final Investment Decision to move forward with the Willow project, while construction continues in 2024 on the Nuna project. The company updates us on some of the most anticipated North Slope developments.
How to Share Infrastructure on the North Slope
The majority of North Slope infrastructure is financed, constructed, and maintained by private entities to support their oil exploration and production activities. Despite North Slope explorers and operators always having an eye on efficiency, some infrastructure (such as processing facilities) isn’t well suited for sharing among multiple companies. However, other infrastructure does lend itself to common use, such as roads and pipelines.
ConocoPhillips Developing Nuna Project from Kuparuk 3T Drill Site
Construction begins this year, with drilling next year, at ConocoPhillips’ Nuna project, just east of Colville River, using a drill site in the Kuparuk River Unit.
ConocoPhillips Alaska Reports $416M in Q1 Earnings
ConocoPhillips Alaska reported net income of $416 million in the first quarter of 2023, as the company ramps up development of the Willow field.
Willow Is Go, but Arctic Offshore Is No
The Biden administration approved a scaled-down plan for ConocoPhillips’ Willow project while announcing further restrictions on North Slope oil development.
ConocoPhillips Alaska’s Extended Reach Helps Shrink Its Carbon Footprint
ConocoPhillips Alaska’s optimization of new technologies and commitment to sustainable development has enabled it to reduce its footprint in the environment by extending drilling from fewer well pads, providing increased revenue and employment opportunities in the state.
Santos Advances Pikka Project on the North Slope
The final investment decision is “yes” for Australian oil company Santos to proceed with developing the Pikka Project on the North Slope.
Repsol Predicts First Oil from Pikka Project in 2026
The timeline for the Pikka project appears to be slipping since the arrival of a new majority partner, Santos, late last year.
First Oil from Greater Mooses Tooth #2
The Greater Mooses Tooth #2 drill site in the National Petroleum Reserve-Alaska has achieved first oil production, according to ConocoPhillips Alaska.