ConocoPhillips: Busy winter seen
ConocoPhillips has outlined a busy two-winter construction schedule for its GMT-2 project in the National Petroleum Reserve-Alaska. Last winter an eight-mile gravel road from GMT-1 was built along with the production pad at GMT-2. This winter the company plans to begin pipeline installation, fabrication of modules and “heavy haul” movements of equipment and materials. In the following winter, 2021, the pipeline installation will be completed and production modules moved to the project site. Drilling will begin, the first of 48 wells, and production will start late in the year. GMT-2 will produce 35,000 to 40,000 barrels per day at peak, and is requiring a $1 billion capital investment. About 700 will be employed on GMT-2 this winter.

The company also plans another busy winter exploration season with seven wells and 165 miles of ice road construction, with 74 miles of that to support exploration.

Oil Search pushes Pikka output
Oil Search Alaska said it will make a Final Investment Decision on its Pikka project in 2020. In a presentation to investors the company said its break-even oil price for initial Pikka development is in the $40-per-barrel range. (In comparison, a break-even estimate for ConocoPhillips’ Willow project is put at $42/barrel by Wood MacKenzie, a consulting firm.)

Oil Search has a “stretch” goal to push Pikka’s total production from 120,000 barrels/day to 135,000 barrels/day and told investors it go higher with new resource additions (the company is exploring again this winter). Meanwhile, a plan to begin early production in 2022 at 30,000 barrels/day could be increased to 50,000 barrels/day under some scenarios, Petroleum News reported.

BlueCrest up to 1,600 b/d in Inlet
BlueCrest Energy says its production from Cosmopolitan, a technically challenging offshore Cook Inlet field, is up to 1,600 barrels/day with the use of new well technology.