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ConocoPhillips and Anadarko Petroleum Corporation have announced two new oil discoveries in the National Petroleum Reserve in Alaska.
The two wells - Pioneer 1 and Rendezvous 2 - are both located in the Greater Mooses Tooth Unit on the North Slope of Alaska, although ConocoPhillips insisted that no further delineation drilling is planned at either site for the time being.
Pioneer 1 was tested in March of this year, while Rendezvous was tested towards the end of 2008, with production rates ranging from 500 barrels of oil a day to as many as 1,300 barrels.
ConocoPhillips - which holds a 78 per cent stake in the Greater Mooses Tooth Unit, said the two wells will be further explored as possible satellite developments with processing at the Alpine facilities in Colville River Unit.
Last month, Conoco Phillips recorded total revenues of $30.7 billion during the first quarter of 2009, down from $54.9 billion in 2008, but insisted that it is well positioned to fulfil its long-term objectives once the global economy recovers.
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