Post by Logan on Feb 21, 2016 8:38:45 GMT -6
ConocoPhillips cracks open giant petroleum reserve, with good results
With oil exploration effectively dead in the U.S. Arctic Ocean and the Arctic National Wildlife Refuge, Alaska’s hope of recharging its oil pipeline depends greatly on one last swath of federal land.
There, in the National Petroleum Reserve-Alaska, ConocoPhillips is enjoying better-than-expected success with a small field that recently began producing the reserve’s first commercial oil.
CD5, as it’s called, is a stepping stone to larger prospects the company wants to develop in the NPR-A, an Indiana-sized sweep of tundra on the western edge of the giant North Slope fields.
But the promise of a huge oil discovery in the reserve, one that could reverse long sagging oil production and begin to refill the trans-Alaska pipeline, seems unlikely, experts say.
Read more: www.adn.com/article/20160220/conocophillips-cracks-open-giant-petroleum-reserve-good-results