Oil discovery "could provide thousands of jobs," ConocoPhillips says

By  | 

ANCHORAGE, (KTUU) - Two new oil wells have been discovered in the Greater Mooses Tooth area in the National Patroleum Reserve – Alaska, also known as NPR-A.

ConocoPhillips said in a press release today that the discovery is “tremendously exciting” for the state of Alaska.

The two wells were drilled in early 2016 by ConocoPhillips. They estimate that the two wells could net the company “up to 100,000 barrels per day.”

The “working interest” of the discovery is divided between ConocoPhillips and another oil company, Anadarko Petroleum Corporation. ConocoPhillips holds a 78 percent stake in the find, and Anadarko makes up the remaining 22 percent.

The exact appraisal of the wells will happen sometime this month, ConocoPhillips said in the release.

Joe Marushack, president of ConocoPhillips, hopes the drill project will see support, saying that the development of Willow could provide thousands of jobs. This would require what Marushack calls a “potential multi-billion-dollar investment” before it could see that kind of job growth.