Happy Thursday!
We love an update for
ConocoPhillips' Willow Project. See
our blog in January and August 2024, if you want to get up to speed on the Willow
Project on the North Slope. Well, there hasn’t been anything notable for
some time, nonetheless we found something from ConocoPhillips which caught our
eye!
Did anyone
happen to read the Oil & Gas Journal’s OGJ Daily Update Newsletter on
November 6, 2025, their article titled, “ConocoPhillips’ quarterly earnings
down year-over-year, while adjusted production increased 4%”? In the article, it speaks about
ConocoPhillips thirds quarter earnings results, nonetheless they had an update
on expected costs of their Willow Project
in Alaska. They have adjusted the guesstimating cost from around $8 billion to $8.5
to $9 billion due to inflation and increased cost of conducting business in the
remote North Slope as well as increased shipping costs. ConocoPhillips noted
they believe production will begin in the first part of 2029. The Willow Project has made the
halfway point on the construction according to the article.
ConocoPhillips
gave an update on their three joint venture LNG projects. The two ventures in Qatar and the one in Port
Arthur are moving along nicely, and their contractors are keeping up with their
work plan. It is noted one of the LNG projects in Qatar should begin production
next year. ConocoPhillips gave a peek
into its estimated Capital Budget for 2026, and it will be around $12 billion.
Stay tuned for
more on the Conoco Phillips’ Willow Project! If you would like to read more of the Oil
& Gas Journal’s article, please click the link: ConocoPhillips
reports lower third-quarter 2025 earnings, raises dividend | Oil & Gas
Journal.
If you would
like help in looking into how to transport your product efficiently, safely, and
with less of a carbon footprint or just find out what is underneath your feet
to help with your emission reduction goals, contact us via email in the blog
and check out ESC's website!
We hope you have a wonderful evening and a productive week!
**Disclaimer: You may be charged a fee to read The Oil
and Gas Journal’s article. **