ConocoPhillips Announces Willow Discovery in National Petroleum Reserve
“This discovery is tremendously exciting not only for ConocoPhillips, but also for the state of Alaska,”said Joe Marushack, president of ConocoPhillips Alaska.
“Willow’s proximity to existing infrastructure improves the economic viability of the discovery. Development of Willow, a potential multi-billion-dollar investment, could provide thousands of jobs during construction and could generate substantial revenue for the federal government, state, North Slope Borough, and communities in the NPRA.”In a follow-up to the Willow discovery, ConocoPhillips and its bidding partner, Anadarko, were successful in December’s federal lease sale on the western North Slope, winning 65 tracts for a total of 594,972 gross acres. ConocoPhillips independently was successful in December’s state lease sale on the western North Slope, winning 74 tracts for a total of 142,280 gross acres.
“The Willow discovery adds to our history of exploration success in the NPRA and is consistent with our focused global exploration strategy,”commented Richard Lunam, president of Exploration, Business Development and Other International for ConocoPhillips.
“The acreage acquired in the recent state and federal lease sales gives us running room to test the concepts that led to Willow and other NPRA discoveries.”Source: ConocoPhillips Alaska Inc. Oil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook]]>