ConocoPhillips heralds first oil at Alaska petroleum reserve

ANCHORAGE, Alaska (AP) – ConocoPhillips Alaska has reached a milestone at the first drill site on federal leases within the National Petroleum Reserve-Alaska.

The company announced Tuesday that it has produced its oil at the Greater Mooses Tooth No. 1 drill site.

Production began Friday.

The site is a satellite of the Alpine Field. Oil will be processed through existing facilities at Alpine.

Construction at the site began in 2017 and at its peak over two winters created 700 jobs, according to ConocoPhillips Alaska.

The site has a nearly 12-acre (4.8-hectare) drilling pad. Production plans call for nine initial wells with capacity for 33 wells.

Peak gross production is estimated at 25,000 to 30,000 barrels of oil per day.

The company estimates construction and drilling expenses at about $725 million.

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