NEWS BULLETIN

April 21, 2016 --- Vol. 22, No. 22April 2016

ConocoPhillips expanding CD5 development to 33 wells

ConocoPhillips is going to expand its CD5 development in the northeast corner of the National Petroleum Reserve-Alaska from 15 wells to 33 wells, Nick Olds, ConocoPhillips vice president of North Slope operations and development, announced during a Resource Development Council meeting this morning. Olds said that the company has approved funding for a $190-million expansion project.

"We've got internal approval and co-owner approval to fund an additional 18 wells and the (associated) infrastructure on the pad," Olds said. "Based on the well results that we're seeing from the first 10 wells we're going to full design capacity of 33 wells and we're moving ahead."

The development will not require any expansion to the existing gravel pad at CD5 but will require the installation of some additional pipe racks. The pipe racks will be fabricated in Alaska this year for installation during the ice-road season next winter. First oil from the expanded development is expected in the third quarter of 2017, Olds said.

- ALAN BAILEY

See story in May 1 issue, available Friday, April 29 at www.PetroleumNews.com


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