ConocoPhillips suspends drilling Possible 12-18 month price slump, company says Oil Search halts work on Pikka early development Anchorage — Alaska North Slope operators have announced spending cuts and delayed drilling as turmoil continued in world crude oil markets. Receive daily email alerts, subscriber notes & personalize your experience. Register Now ConocoPhillips will curtail 2020 Alaska capital spending by $200 million and delay development drilling in the Kuparuk River and Alpine fields. The action will result in two drill rigs being laid off. Oil Search Alaska, a Papua, New Guinea company engaged in developing Pikka, a new discovery, along with its partner Repsol, will delay work on an early Pikka production project although work on gravel roads and pads for the project that are now underway will continue. “Limited engineering work on the Pikka Unit full field development will continue, so that the project is ready to move […]