- ConocoPhillips (NYSE:COP) disclosed plans for a drill site on the Kuparuk oil field on Alaska’s North Slope, representing the first new drill site at the location in more than a decade.
- The decision follows moves by Alaska's legislature which paved the way for COP and BP to launch $1B in programs along with the intent to evaluate up to $3B of projects in the Greater Prudhoe Bay area.
- Peak production is expected to reach 8K bbl/day of oil.