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NEWS BULLETIN

December 01, 2004 --- Vol. 10, No. 108December 2004

Kerr-McGee plans well to test for Schrader

Kerr-McGee is planning to drill a horizontal appraisal well from its Alaska North Slope acreage this winter to determine whether the Schrader Bluff heavy oil accumulation near Prudhoe Bay extends on to its property.

“It may be possible that a play which has been developing down in (western) Prudhoe Bay and Kuparuk River … extends on to our acreage as well,” Dave Hager, Kerr-McGee’s vice present of exploration and production, said Nov. 30 at the Friedman Billings Ramsey annual investor conference in New York.

Kerr-McGee also plans to drill a horizontal appraisal well this winter to further test its Nikaitchuq discovery in the Sag River formation, plus an exploration well on its West Milne option acreage, Hager said.

“We’re already building the ice islands out there, so we’ll probably spud these wells in January,” he added.

November North Slope production up 2 percent over October

Alaska North Slope crude oil production averaged 980,690 barrels per day in November, up 2 percent from an October average of 961,506 bpd.

Prudhoe Bay production was up 4.8 percent, the largest increase, averaging 470,872 bpd for November compared to 449,188 bpd in October. Production from the Endicott field was up 4.7 percent, averaging 23,284 bpd in November vs. 22,247 bpd in October.

The Alpine field averaged 116,197 bpd in November, up 2.5 percent from an October average of 113,350 bpd. Milne Point held about level, averaging 52,442 bpd in November, up 0.3 percent from an October average of 52,287 bpd.

The Kuparuk River field had the largest drop in production, down 2.76 percent in November to an average 197,767 bpd vs. an October average of 203,372 bpd. Production at Northstar averaged 73,735 bpd, down 0.9 percent from an October average of 74,390. The Lisburne field averaged 46,393 bpd in November, down 0.6 percent from an October average of 46,672 bpd.

Production in Cook Inlet averaged 22,467 bpd in November, down 5.2 percent from an October average of 23,689 bpd.

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