- ConocoPhillips (NYSE:COP) has approved funding for its $900M Greater Mooses Tooth development on Alaska's North Slope, Alaska Dispatch News reports.
- Production is expected to begin in 2018 at the field in the National Petroleum Reserve-Alaska, and would mark the first time oil has flowed from federal lands on the reserve.
- COP will operate the field as majority owner, with Anadarko Petroleum (NYSE:APC) holding a 22% interest; the companies own similar stakes in the CD5 project within the reserve boundaries on land owned by Alaska Native corporations.
- The project is expected to yield 30K bbl/day of oil at its peak.