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Released October 18, 2018 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--ConocoPhillips (NYSE:COP) (Houston, Texas) is on a roll in The Last Frontier. Following the startup of business at its much-anticipated Greater Mooses Tooth development, the company received approval from the U.S. Bureau of Land Management for a second site nearby that, according to the company, could have a greater output. Industrial Info is tracking nearly $53 billion in active projects involving ConocoPhillips, including nearly $22 billion worth in the U.S.
ConocoPhillips announced last week that it had started producing oil at its oil at the Greater Mooses Tooth No. 1 (GMT 1) drilling site, with operations beginning on Friday, October 5. The company expects production at GMT 1 to peak at 25,000 to 30,000 barrels per day, which will be sent eastward by pipeline for processing at the Alpine Field, also operated by ConocoPhillips. The end product will be sent further east to Prudhoe Bay, then south through the Trans Alaska Pipeline System. For more information, see Industrial Info's project report.
Less than 10 miles southwest of GMT 1, ConocoPhillips is seeking to develop Greater Mooses Tooth 2 (GMT 2), which the company says could begin producing as much as 35,000 to 40,000 barrels per day by 2021. The company is planning to construct new well pads with up to 19 wells that will use existing pipelines and facilities in the Alpine Field. For more information, see Industrial Info's project report.
In a joint decision with the U.S. Army Corps of Engineers, the U.S. Bureau of Land Management announced on Wednesday that it had approved GMT 2 for construction. ConocoPhillips aims to begin construction this winter. An 8.6-mile pipeline will connect GMT 1 and GMT 2.
In addition to GMT 2, Industrial Info is tracking the $90 million 2018 and $75 million 2019 drilling programs in the Alpine Field, each of which involves performing workovers on existing wells and drilling eight new wells, as well as the $90 million 2019 drilling program in the nearby Kuparuk Field, which involves utilizing two rigs to drill 10 to 12 new wells. For more information, see Industrial Info's reports on the 2018 Alpine, 2019 Alpine and Kuparuk projects.
GMT 1 is the second field within the borders of Alaska's federally managed National Petroleum Reserve to produce oil. ConocoPhillips began production at the first, CD5, in 2015. It owns the majority of federally leased land in the reserve.
ConocoPhillips has spent the past few years shedding its non-core assets, such as its former properties in Canada's oil sands, and is investing in areas where growth is more certain, such as Alaska and its "big three" in Texas: the Bakken Shale, Delaware Basin and Eagle Ford Shale, all of which have performed well since the beginning of the year.
In particular, the company has several drilling projects in the works at the Eagle Ford-2 (or Eagleville) field:
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
ConocoPhillips announced last week that it had started producing oil at its oil at the Greater Mooses Tooth No. 1 (GMT 1) drilling site, with operations beginning on Friday, October 5. The company expects production at GMT 1 to peak at 25,000 to 30,000 barrels per day, which will be sent eastward by pipeline for processing at the Alpine Field, also operated by ConocoPhillips. The end product will be sent further east to Prudhoe Bay, then south through the Trans Alaska Pipeline System. For more information, see Industrial Info's project report.
Less than 10 miles southwest of GMT 1, ConocoPhillips is seeking to develop Greater Mooses Tooth 2 (GMT 2), which the company says could begin producing as much as 35,000 to 40,000 barrels per day by 2021. The company is planning to construct new well pads with up to 19 wells that will use existing pipelines and facilities in the Alpine Field. For more information, see Industrial Info's project report.
In a joint decision with the U.S. Army Corps of Engineers, the U.S. Bureau of Land Management announced on Wednesday that it had approved GMT 2 for construction. ConocoPhillips aims to begin construction this winter. An 8.6-mile pipeline will connect GMT 1 and GMT 2.
In addition to GMT 2, Industrial Info is tracking the $90 million 2018 and $75 million 2019 drilling programs in the Alpine Field, each of which involves performing workovers on existing wells and drilling eight new wells, as well as the $90 million 2019 drilling program in the nearby Kuparuk Field, which involves utilizing two rigs to drill 10 to 12 new wells. For more information, see Industrial Info's reports on the 2018 Alpine, 2019 Alpine and Kuparuk projects.
GMT 1 is the second field within the borders of Alaska's federally managed National Petroleum Reserve to produce oil. ConocoPhillips began production at the first, CD5, in 2015. It owns the majority of federally leased land in the reserve.
ConocoPhillips has spent the past few years shedding its non-core assets, such as its former properties in Canada's oil sands, and is investing in areas where growth is more certain, such as Alaska and its "big three" in Texas: the Bakken Shale, Delaware Basin and Eagle Ford Shale, all of which have performed well since the beginning of the year.
In particular, the company has several drilling projects in the works at the Eagle Ford-2 (or Eagleville) field:
- $85 million Seidel Unit A Crude Oil Lease near Cuero, with eight new wells; see project report
- $60 million LL A Jansky A USW Crude Oil Lease near Yorktown, with 11 new wells; see project report
- $50 million R. Borchardt A Crude Oil Lease near Cuero, with nine new wells; see project report
- $40 million Rucka Unit A Crude Oil Lease near Ecleto, with eight new wells; see project report
- $30 million Saunders Unit B Crude Oil Lease near Yorktown, with six new wells; see project report
- $30 million Butler A-304-Brysch USW D Crude Oil Lease near Nordheim, with six new wells; see project report
- $25 million Barnhardt Unit B Crude Oil Lease near Cuero, with five new wells; see project report
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.
