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NEWS BULLETIN

July 10, 2003 --- Vol. 9, No. 69July 2003

Armstrong, ConocoPhillips, Anadarko win BP acreage bundles

Armstrong Resources, ConocoPhillips Alaska and Anadarko Petroleum were the companies that won North Slope exploration packages from BP Exploration (Alaska) in May, BP spokesman Daren Beaudo told Petroleum News July 9.

Beaudo said June 25 that BP had sold three of the 12 North Slope exploration acreage bundles it put up for sale in January, but was unable to release the names of the three winners at that time because commercial arrangements had not been finalized. (See June 29 Petroleum News article.)

Armstrong won “close to 10,000 acres northwest of the Milne Point unit, adjacent to that unit,” company President Bill Armstrong told Petroleum News July 10. He said his company “has plans for the area,” which is “offshore in shallow water,” but was not yet ready to discuss those plans.

Beaudo said Anadarko won a bundle in the Southeast Prudhoe area and ConocoPhillips won the Colville acreage.

The three packages represent nearly half the 405,000 acres BP had left for sale outside of its North Slope producing acreage.

The 12 bundles were offered to 15 oil companies, including independents, “positioned to prospect the leases,” BP said.

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