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ConocoPhillips subsidiary produces 1st oil at Greater Mooses Tooth 1 in Alaska

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ConocoPhillips subsidiary produces 1st oil at Greater Mooses Tooth 1 in Alaska

ConocoPhillips Alaska, a subsidiary of ConocoPhillips, said Oct. 9 that the Greater Mooses Tooth 1 drill site in the Greater Mooses Tooth Unit in the National Petroleum Reserve-Alaska produced its first oil Oct. 5, ahead of schedule.

The site's peak gross production is estimated at 25,000 barrels of oil per day to 30,000 bbl/d and will initially have nine wells with the capacity of up to 33 wells in its 11.8-acre drilling pad. The project costs are pegged at $725 million inclusive of construction and drilling expenses.

The company also said it is awaiting permits to develop a second drill site in the Greater Mooses Tooth Unit called GMT2 located eight miles southwest of Greater Mooses Tooth 1, or GMT1. The site's construction could start in early 2019 if a record of decision is accepted and a funding decision is made. GMT2 is estimated to cost more than $1 billion gross and will have a projected peak production of 35,000 bbl/d to 40,000 bbl/d.

In addition, the company said it seeking permits for the Willow discovery in the Bear Tooth Unit, which could nominally produce 100,000 bbl/d gross.