ConocoPhillips is Alaska’s largest crude oil producer and one of the largest owners of state, federal and fee exploration leases, with approximately 0.5 million net undeveloped acres at year-end 2016.
ConocoPhillips has major ownership interests in two of North America’s largest oil fields, both located on Alaska’s North Slope—Kuparuk, which the company operates, and Prudhoe Bay. Additionally, ConocoPhillips has a significant operating interest in the Alpine Field, located on the Western North Slope.
In southern Alaska, the company owns a 100 percent interest in the Kenai liquefied natural gas (LNG) facility. The Tyonek Platform in the North Cook Inlet Field and the Beluga River natural gas field, located in the Cook Inlet, were sold in 2016.
Significant oil exploration and development opportunities still exist on the North Slope of Alaska. In 2016, the company drilled two exploration wells that encountered significant pay in the Greater Mooses Tooth Unit. The discovery, Willow, is located in the northeast portion of the NPR-A. ConocoPhillips is pursuing several new developments and evaluating additional North Slope investments on its onshore acreage.