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.