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Unconventional Yearbook 2018

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22 | January 2018 | 2018 UNCONVENTIONAL YEARBOOK | KEY PLAYERS of production during the second quarter of 2017 and an average lateral length of 9,995 ft. The average peak 30-day and 24-hour rates for these wells were 923 boe/d (87% oil) and 1,078 boe/d, respectively. The company currently [as of Aug. 2] has five rigs drilling in the Midland Basin," the report stated. In July 2017 Concho acquired about 12,400 net acres with an average 100% working interest in Andrews and Martin counties, Texas, accord- ing to the company's second-quarter report. The acquired properties included about 3 Mboe/d (73% oil) of legacy production. The acreage is contiguous with the Mabee Ranch leasehold Concho acquired from Reliance in fourth-quarter 2016, according to the company. Concho also boasts it is a top 15 producer of oil in Texas, according to a company fact sheet. Concho expected production to average between 200 Mboe/d and 204 Mboe/d in fourth-quarter 2017. ConocoPhillips ■ Ranked No. 339 on the 2017 list of Fortune Global 500 companies ■ World's largest independent E&P company based on production and proved reserves ConocoPhillips has U.S. operations in the Lower 48 and Alaska. The company is the world's largest independent E&P company based on production and proved reserves. In Alaska the company reported 2016 pro- duction of 179 Mboe/d and proved reserves of 1.3 Bboe, according to a March 2017 company fact sheet. ConocoPhillips has ownership interests in two oil fields on Alaska's North Slope—Kuparuk, which the company operates with 55.3% interest, and Prudhoe Bay with 36.1% interest. Additionally, ConocoPhillips is the operator with 78% interest in two areas in the Alpine Field located on the West- ern North Slope—Alpine and Alpine Satellites. "ConocoPhillips is pursuing several new devel- opments and evaluating additional North Slope investments on its onshore acreage," according to the fact sheet. In addition, "ConocoPhillips is Alaska's largest crude oil producer and one of the largest owners of state, federal and fee exploration leases, with approximately 0.5 million net undeveloped acres at year-end 2016." In southern Alaska the company owns a 100% interest in the Kenai LNG facility. The Tyonek Plat- form in the North Cook Inlet Field and the Beluga River natural gas field located in the Cook Inlet were sold in 2016. The company's Lower 48 segment consists of 12.3 million net acres, much of it HBP and includes three regions covering the Gulf Coast, Midconti- nent and Rockies. The company's major focus areas include the Eagle Ford, Bakken and Permian. In 2016 the com- pany's Lower 48 production totaled 486 Mboe/d and proved reserves of 1.6 Bboe. During third-quarter 2017 ConocoPhillips had 12 operated drilling rigs running in the Eagle Ford, Bakken and the Permian Basin. In June 2017 Cono- coPhillips announced an agreement to sell its Barnett assets to an affiliate of Miller Thomson & Partners LLC. The transaction ConocoPhillips has 78% interest in two areas in the Alpine Field located on the Western North Slope: Alpine and Alpine Satellites. (Photo courtesy of ConocoPhillips)

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