If Alaska District Court Judge Sharon Gleason cancels required federal approvals, “the Willow project is highly unlikely to proceed at all,” said Connor Dunn, vice president of Willow for ConocoPhillips.
Third-quarter 2023 production is expected to be 1.78 to 1.82 million barrels of oil equivalent per day (MMBOED). Full-year production is now expected to be 1.80 to 1.81 MMBOED, as compared to prior guidance of 1.78 to 1.80 MMBOED.
ConocoPhillips had a new pipeline permit T10483 approved for a total of 36 miles of pipeline located in CULBERSON, REEVES counties (Permian Basin).
ConocoPhillips Alaska will continue to invest about $1 billion a year to grow our Alaska legacy business with projects such as Nuna.
First quarter of 2023, Alaska was the most profitable geographical area in the world for ConocoPhillips on a per barrel of oil equivalent (BOE).
ConocoPhillips plans to spend nearly $4 billion to more than double its global LNG footprint
The Lower 48 represents the largest ConocoPhillips business segment today based on production. The company has high-quality positions in the United States unconventionals, which are low cost of supply and low GHG intensity assets with significant upside potential.
Conocophillips approved for a contentious oil-and-gas drilling project in the northwestern state of Alaska.
Conocophillips 2023 total capital expenditure guidance is $10.7 to $11.3 billion, which includes $9.1 to $9.3 billion for base capital and $1.6 to $2.0 billion for anticipated major project spending at NFE, NFS, PALNG and Willow. ConocoPhillips ranks #5 in wells drilled in 2022 with 298 wells drilled in the Mid Continent of the US. The Mid Continent region includes Texas, Oklahoma, New Mexico and Louisiana.
Conocophillips currently holds approximately 1 million net acres in the Permian basin, including 75,000 in the resource-rich Delaware Basin and 48,500 in the Midland Basin.
