ConocoPhillips Adding New Rig to Kuparuk

One of the North Slope's major players plans to add another drilling rig at Kuparuk.

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by Associated Press

JUNEAU- One of the North Slope's major players plans to add another drilling rig at Kuparuk. ConocoPhillips Alaska says this will be the second rig added to its Kuparuk fleet since the Legislature passed a major oil tax cut earlier this year. President Trond-Erik Johansen says the tax cut improved the business climate in Alaska. He said in a release that his company will have more announcements in the future about production-boosting investments on the slope. The company says the first rig began working in May and has been producing 1,600 barrels of oil a day. It says the second rig will begin drilling in January. Spokeswoman Natalie Lowman says company will not know what production rate the new rig has until after it starts working.