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ConocoPhillips COP, the operator of Eldfisk and Embla oilfields in the North Sea, announced that both these fields have restarted production.
Both the fields were shutdown on New Year’s Eve following concerns that the installations could be hit by a drifting barge.
Located in the middle of the North Sea between Norway and Britain, BP plc's (BP) Valhall platform and ConocoPhillips's Eldfisk and Embla, lay on the way of the drifting vessel, instigating staff evacuations.
Ekofisk crude oil stream represents one of four North Sea crudes supporting the global Brent oil benchmark. ConocoPhillips' Embla and Eldfisk fields form a part of the Ekofisk crude oil stream.
In Jan 2016, the Ekofisk stream was scheduled to load about 258,000 barrels per day (bpd), while the loading program for Feb is expected to be issued early today.
ConocoPhillips's Eldfisk and Embla fields soon started production after following its procedures once the vessel passed Eldfisk Complex on Dec 31. No further details with respect to time and at what rates were the fields producing when they were closed have been revealed.
BP disclosed that after the barge had flowed past the Valhall, the company began normalising operations and that it generally takes 24 hours to resume output after a complete shutdown.
BP, the operator of Valhall and Hess Corporation (HES) its co-owner, announced that the field was producing at a rate of about 50,000 barrels per day before it shut.
ConocoPhillips currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the energy sector are ReneSola Ltd. SOL, Energy Transfer Equity, L.P. ETE and Boardwalk Pipeline Partners, LP BWP. Each of these stocks sports a Zacks Rank #1 (Strong Buy).
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ConocoPhillips
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CODE : COP |
ISIN : US20825C1045 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
ConocoPhillips is a producing company based in United states of america. ConocoPhillips is listed in Germany and in United States of America. Its market capitalisation is US$ 153.2 billions as of today (€ 143.1 billions). Its stock quote reached its lowest recent point on December 31, 1991 at US$ 10.94, and its highest recent level on April 25, 2024 at US$ 130.11. ConocoPhillips has 1 177 107 000 shares outstanding. |