Projects Still Moving on Slope

It may be cold and snowy outside, but there’s some hot news from the North Slope.
Not only is new oil flowing at ConocoPhillips’ new CD-5 drillsite, but the feds approved a drilling permit and right-of-way for the producer’s proposed Greater Mooses Tooth 1 oil development project in the NPR-A (See related story).

Peak production at CD-5 is expected to be about 16,000 barrels per day. Anadarko Petroleum Corp. is ConocoPhillips’ minority partner, and mineral rights are held by Arctic Slope Regional Corp.

To the south, a small independent called 88 Energy has “spudded” a new exploration well to test the oil production potential of the large shale formations. The Icewine well is planned to drill to 11,600 feet with a goal of examining the HRZ Zone. 88 Energy is the second company probing the North Slope shales, the other being independent Great Bear Petroleum.

You can read more here.