ConocoPhillips has been one of the principal players In the Mackenzie Delta and Beaufort Sea areas since the late 1960s and is the operator of the Parsons Lake and Amauligak discoveries. The company holds interests in 45 significant discovery licenses. At year-end 2010, the total leasehold for the region exceeded 1.5 million gross acres (1 million net acres).
Parsons Lake
Operator: ConocoPhillips (75.0%)
Co-venturer: ExxonMobil (25.0%)
Discovered in 1972, the Parsons Lake natural gas field is located in the Mackenzie Delta, 45 miles north of Inuvik and about 35 miles southwest of Tuktoyaktuk. Parsons Lake is one of the three anchor fields that would be produced into the proposed Mackenzie Gas Project. In March 2011, this project received regulatory approval from the National Energy Board of Canada. Detailed engineering work continues to be deferred pending resolution with the Canadian government on the fiscal and commercial framework.
Umiak
Operator: MGM (40.0%)
Co-venturers: ConocoPhillips (40.0%), KOGAS Canada (20.0%)
Discovered in 2004, the Umiak Field is located in the Mackenzie Delta, 75 miles northwest of Inuvik. Umiak is the fourth-largest discovery onshore Mackenzie Delta. Plans to commercialize this discovery will be linked to the progress of the Mackenzie Gas Project and its infrastructure development.
Amauligak
Operator: ConocoPhillips (53.8%)
Co-venturers: Chevron (35.4%), ExxonMobil (7.5%), Other (3.3%)
Discovered in 1983, Amauligak is the largest oil and gas field in the Mackenzie Delta and Beaufort Sea areas. It lies approximately 31 miles offshore in shallow water. A range of possible development options are being evaluated. In 2010, ConocoPhillips acquiredan additional 1.4 percent interest in Amauligak.
Arctic Islands
In the Arctic Islands, ConocoPhillips holds interests in 13 significant discovery licenses. At year-end 2010, the total leasehold for the region was approximately 400,000 gross acres (158,000 net acres).