Remaining value in Prudhoe Bay is a net abandonment liability. Alyeska Pipeline is starved for throughput volumes. Why are we still there? Maybe no where else to go.
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COP had “access” to the Permian basin Pecos region and let the leases expire then a few years later Apache grabbed them, drilled some wells and figured it out and reported the biggest find in the Permian in decades. So saying there is access is useless, it has to be extracted economically.....something COP struggles with.
Why is Conocophillips still in Alaska? Remoteness, access, and size gives COP advantage over it's competitors in the region. We have access to at least five billion barrels of new oil reserves and potentially over 10 billion. The Nuna prospect has a potential of five hundred million to a billion barrels of producible reserves maybe much more with use of new drilling technology and the petroleum reserve offers billions of barrels of new producible reserves.
BP is just reverting to what is more fashionable according to Wall Street: U.S. Shale. What Hilcorp will be able to do with it is up for debate, but they've got a solid record.
Hahaha id–t poster....look west of PB where COP’s newer assets are....-PB is still a good producing asset!
I'm sure you would know better than the Hillcorp managent who just spent billions in a net liability.