NEWS BULLETIN

February 17, 1998 --- Vol. 4, No. 11February 1998

Phillips to develop Tyonek Deep

Phillips Petroleum Co. said Feb. 17 that an appraisal well at its Tyonek Deep oil play in Cook Inlet tested 3,125 barrels of oil per day from two pay zones and that the company expects to move ahead with commercial development.

The B-2 North Cook Inlet well was drilled to a measured depth of 14,537 feet in 100 feet of water and tested two intervals, the Sunfish and North Forelands zones. The Sunfish was tested through perforations at a subsea depth of 13,110 feet to 13,170 feet and flowed 2,000 barrels of oil per day through a 45/64-inch choke. The North Forelands zone was tested through perforations at a subsea depth of 13,652 feet to 13,965 feet and flowed 1,125 barrels of oil per day through a 30/64-inch choke. Oil gravity ranged from 39 degrees API to 43 degrees API.

The well was drilled from the Tyonek platform, from which Phillips currently produces gas used as feedstock at the Kenai liquefied natural gas facility. Phillips applied to the Alaska Oil and Gas Conservation Commission in January to drill a sidetrack from the B-1 North Cook inlet well from the Tyonek platform.

Phillips said it plans to use the existing drilling rig to drill two development wells by mid-summer 1998. The company has also initiated engineering studies for design of pipeline and production facilities capable of processing 5,000 barrels of oil per day as early as mid-1999.

Phillips is operator of the field with a 100 percent interest.


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