ConocoPhillips' Magnolia Platform Still Shut-In as Crews Ready for Gustav

ConocoPhillips has continued to monitor the progress of Tropical Storm Gustav.

The projected path of Gustav is still highly dependent on the status of high pressure over the eastern Gulf of Mexico, but several computer models continue to predict the storm will make landfall between the Alabama and East Texas coast, likely on Tuesday.

Given the projected path for the storm the following actions have been taken by ConocoPhillips on the Magnolia platform:

Production remains shut-in for the routine maintenance (unrelated to the storm). Crews are preparing their equipment for possible storm conditions. The Company evacuated a total of 44 ConocoPhillips and contract personnel yesterday. Plans are in place to complete the removal of the remaining personnel today and Saturday if the storm continues on the projected track.

Similar preparations have begun on the South Louisiana Inland Water asset (SELA) operations. Specifically, rig operations have been stopped and the rig is moving off location today headed to an inland dock.

Rig operations (drilling new well) have been terminated and the rig is being moved off location to an inland dock. Miscellaneous well and construction activities on 3 jack-up boats, 3 crane barge spreads, and one remedial spread have been suspended. The remaining crews will be evacuated or standby their equipment at the dock. Production operations in South Louisiana remain in normal mode.

Operations at ConocoPhillips' Gulf Coast refineries remain normal at this time. However, appropriate planning is underway to allow for the safe shut down of refinery operations and the removal of refinery personnel as circumstances warrant.