ExxonMobil Makes Headway at Point Thomson
ExxonMobil Production Company has completed drilling and casing the surface section on the second well at Point Thomson. The well reached its target surface-section depth of 4,875 feet. Both wells are planned to be completed to their final depths by year end 2010.
Additionally, construction work is progressing on schedule with more than 80 barge loads of equipment and material delivered to the site since mid-July.
"We are progressing the development of Point Thomson consistent with the Alaska Department of Natural Resources Interim Decision of January 2009 and the Plan of Development submitted in February 2008," said Dale Pittman, Alaska production manager for ExxonMobil. "We place the highest priority on safety and care of the environment. We are on schedule to begin production at Point Thomson by year-end 2014."
Point Thomson is a natural gas and condensate field located 60 miles east of Prudhoe Bay on the North Slope of Alaska. It holds an estimated 8 trillion cubic feet of gas -- about 25 percent of the North Slope's proven gas resource -- and about 200 million barrels of condensate.
Developing these resources presents a number of challenges. In order to safely access the high pressure Point Thomson reservoir, the Nabors 27E drilling rig was modified with approximately $35 million in upgrades. ExxonMobil staff and Alaskan contractors worked in 2008 through early 2009 to prepare the rig and pad for drilling.
ExxonMobil will continue to bring innovative technology and world-class management expertise to the project. Field development will include a gas cycling plant designed to produce hydrocarbon liquids and re-inject natural gas back into the reservoir, making Point Thomson the highest-pressure gas cycling operation in the world. In addition to processing facilities, the development will include a pipeline tie-in to the TransAlaska Pipeline System (TAPS) and other ancillary facilities and infrastructure. Point Thomson owners committed $120 million to the drilling and development activities in 2008, with additional investments of about $250 million expected in 2009. Point Thomson gas is critical to the success of a North Slope gas pipeline.
In addition to ExxonMobil, other major Point Thomson owners participating in the current drilling and development activity include BP Exploration (Alaska) Inc. and ConocoPhillips Alaska, Inc.
- Brand Finance Ranks Most Valuable, Strongest Oil and Gas Brands
- Canacol Makes New Gas Discovery in Colombia's Magdalena Basin
- FortisBC Denies Gas Greenwashing as Suit Awaits
- Oil and Gas Executives Predict WTI Oil Price
- Egypt Plans to Meet Summer Fuel Needs with LNG Imports
- Credit Agricole Helps NGP Secure Funds for Fishery-Solar Projects in Taiwan
- Centcom Outlines Latest Red Sea Moves
- Industry Protests Proposed Methane Fee Guidelines for O&G Facilities in US
- Exxon, Cnooc Merge Guyana Arbitration Claims Against Chevron
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- Blockchain Demands Attention in Oil and Gas
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- USA Oil and Gas Job Figures Jump
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Equinor Makes Discovery in North Sea
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension