Phillips replaces 135 percent of production; Conoco boosts reservesPhillips says its Lower 48 discoveries cost $5.08 per barrel, $5.15 in Alaska and $6.80 for non-U.S. reserves; pumped more oil in Alaska than added to its reserves Allen Baker PNA Contributing Writer
Phillips Petroleum Co. replaced 135 percent of its 2001 oil and gas production with proved reserves of 433 million barrels of oil equivalent, the company announced.
Future partner Conoco did even better, but that was mostly due to the acquisition of Gulf Canada. Conoco’s reserves rose by 1.2 billio....
[additional news subjects in this story]
New oil finding cost up in 2001 Alaska discoveries cost $5.15 per barrel BP replaces 191% of production; Forest Oil 259%
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