Yesterday ConocoPhillips' (NYSE:COP) Alaskan unit announced a big discovery in Alaska. The Willow discovery lies in the COP's Greater Mooses Tooth ("GMT") unit and consists of two wells which encountered 72 feet and 42 feet of net pay. 3-D seismic appraisal work will start this month, however initial estimates indicate the discovery could contain a recoverable oil potential of 300 million barrels of oil. As a result, Willow could produce up to 100,000 bpd of oil and first oil could come by 2023.
ConocoPhillips has a 78% working interest in the play while Anadarko Petroleum (NYSE:APC) holds a 22% interest....
(Excerpt) Read more at seekingalpha.com ...
