ConocoPhillips to restore production in Alaska and Lower 48

ConocoPhillips will start restoring curtailed Alaska and Lower 48 production in July after cutting back production for second-quarter 2020.

Surmont production should increase from curtailed levels in this year’s third quarter.

For second-quarter 2020, curtailments were primarily related to oil production and averaged about 225,000 boe/d on a net basis. Of total net curtailments, about 65% were in the Lower 48, 15% were in Alaska, and 15% were in Surmont in Canada.

The remainder were primarily in Malaysia. Including impacts from curtailments and planned seasonal turnaround activity, the company expects production volumes for the second quarter of 960,000-980,000 boe/d.

Excluding Libya, and adjusting for closed dispositions and curtailments, second-quarter 2020 production is expected to be in line with the same period a year ago and about 5% below first-quarter 2020.

Second-quarter operational and financial results are expected on the 30^th July.

Source: Oil & Gas Journal