As of 20 June 2019, ConocoPhillips announced plans to purchase 11 tracts covering an area of 21,004 ac (85 sq km) on the North Slope from Caelus Natural Resources. The acreage is located around 5 mi (8 km) southwest of the Oooguruk field, operated by Eni, and encompasses the 2012 Nuna oil discovery, which could hold between 75 and 100 MMbbl in reserves. The transaction is subject to the authoritiesâ approval and, upon completion, will enable ConocoPhillips to further strengthen its position in the North Slope Basin. The next step for the company will be to appraise the find and potentially develop it to expand the current production. ConocoPhillips is Alaskaâs largest producer with an output of 186 MMboe/d (92% oil, 7.5% NGL and 0.5% gas) in 2018, and largest owner of exploration acreage with some 1.3 million of net undeveloped acres (5,260 sq km) at year-end.
ConocoPhillips is picking 11 North Slope ADLs: 355036-355039, 390434, 390505, 390506, 390697 and 392158. of acreage near the Kuparuk field (North Slope B.) from Caelus Natural Resources. This includes the Nuna oil discovery.